Financing your progress. Singapore-based Hubble, a construction management platform allows developers and contractors to automate processes, track ongoing work, and collect data in real-time.

Now, they’ve just raised $5M to allow early payments based on progress data!

Investor check. They took in a $5M debt facility from AlteriQ Global, a private credit investment firm focused on the Asian market.

• In 2022, they raised a $9.5M ($12.85M SGD) Series B from Taronga Ventures, Kajima Ventures, Seeds Capital and Tin Men Capital.

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😰 The problem

Most of the time, property developers and main contractors only get paid after a project is entirely done.

The problem? They need capital to operate the business—like pay for materials and labor.

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🏃 Progress-to-Payment

That’s where the new Hubble.Financial comes in! They enable their customers to receive payments faster based on verifiable progress data taken from their construction management platform.

• For developers and contractors: Take in capital in order to make payments faster to pay for expenses critical to the construction process.
• For subcontractors: Request on-demand early payments based on progress claims and invoices backed by data from the Hubble app.

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💸 What’s next?

Since mid-2023, their total invoices funded have grown to $20M across projects. With the new $$$, they can double down on providing liquidity to their clients!