- Hubble raised $5M for early payments based on progress data in construction projects.
- The funding comes from AlteriQ Global and follows a $9.5M Series B round.
- Hubble.Financial solves cash flow issues by enabling faster payments for developers and contractors.
Singapore-based Hubble, a construction management platform, recently raised $5M to support their latest offering: early payments based on progress data.
Investors jumping on the bandwagon
Hubble enables developers and contractors to automate processes, track ongoing work, and collect real-time data.
The $5M debt facility comes from AlteriQ Global, a private credit investment firm focused on the Asian market.
This funding follows Hubble’s $9.5M Series B round in 2022, which included investments from Taronga Ventures, Kajima Ventures, Seeds Capital, and Tin Men Capital.
Constructing a smoother cash flow
Hubble.Financial aims to solve a common pain point in the construction industry: the need for capital to cover expenses like materials and labor before receiving payment upon project completion.
By leveraging verifiable progress data from their construction management platform, Hubble enables developers and contractors to receive payments faster and subcontractors to request on-demand early payments based on progress claims and invoices.
Since mid-2023, Hubble has funded a total of $20M in invoices across various projects.
The new funding will allow the company to expand its liquidity offerings to clients further, supporting the smooth operation of construction projects throughout the region.
