Innovation Name: Earlytrade Build – Subcontractor early payment platform
Awards: 2nd Most Innovative Technology Company
Unaffordable and unfair access to finance for Australia’s construction industry subcontractors prevents these small businesses from meeting project deadlines, taking on more work and paying staff. Earlytrade Build is a software platform that enables large construction firms to empower their subcontractors with fast, fair and affordable finance through early invoice payments. Earlytrade Build allows subcontractors to confidentially and securely control when they are paid, delivering fast, fair and affordable finance to a segment underserviced by traditional lenders.
Subcontractor users are paid 20-40 days faster through Earlytrade Build compared to industry standards and access $130,000 per request on average.