FAKTUS has secured €56 million in combined funding. The company is building Europe's first neobank for small and medium-sized construction businesses.
Construction SMEs face significant cash flow challenges. They often wait an average of 85 days to be paid for completed work. FAKTUS solves this problem with an AI-powered financial platform. It provides services like business accounts, invoice financing, and material advances. This gives builders immediate access to liquidity to keep projects moving forward. Its AI technology analyzes contracts and invoices to approve financing in just two hours. This process traditionally takes weeks to complete.
