Constrafor, a construction procurement company, goes ‘SAFE’ route with new capital

Variety
24-04-2023 | 09:13
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Constrafor, a construction procurement company, goes ‘SAFE’ route with new capital
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Constrafor, a construction procurement company, goes ‘SAFE’ route with new capital

More construction projects are being started, but payments to contractors and their subcontractors continue to cause a bottleneck in the normal course of completing a project.

“Banks are more and more careful with their own funding of development projects, which means they will also slow down payments on their own side,” Constrafor CEO Anwar Ghauche told TechCrunch. “What this means is that payment timing to subcontractors are extending instead of shrinking, only getting more difficult for subcontractors because they don’t usually have recourse to go to their banks and grow their line of credit.”
 

Constrafor

Construction

Procurement

Company

SAFE

Route

New

Capital

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