Constrafor, a New York City-based company that offers a cloud-based platform designed to simplify and expedite procurement and financial processes in the construction industry, raised $264 million in equity and debt financing.
The financing included an equity part of $14 million led by NFX and a $250 million credit facility led by Wafra and Crestline Investors.
Constrafor operates on a B2B (business-to-business) model, offering a cloud-based platform that streamlines procurement and financial workflows for general contractors and subcontractors in the construction industry. Their core services include managing contracts, certificates of insurance, invoices, and payments. Along with procurement solutions, Constrafor also offers an Early Pay Program (EPP), which offers subcontractors accelerated invoice payments, thereby improving cash flow and enabling them to take on more projects. This combination of software solutions and financial services addresses critical operational challenges in construction, enhancing efficiency and reducing financial strain for their clients.
With fresh funds, Constrafor intends to accelerate its growth plans and consolidate its leadership in construction finance technology.