How subcontractors working for this large GC got paid faster and took on more jobs
How Raistone helped
subcontractors get paid faster
One of the world’s leading construction companies with $15bn+ in annual revenue needed to ensure their subcontractors had the money required to take on more jobs.
Working with Raistone, our client enabled subcontractors to turn receivables due to them into cash they can spend now. On the strength of the general contractor’s credit, the program was offered at a 100% advance rate and a very competitive discount rate.
Because Raistone is integrated with major invoicing and accounting systems, it was seamless for our client’s subcontractors to sign up and get paid faster. And the program also enabled the general contractor to successfully source subcontractors during a tight labor market.
To date, more than 400 subcontractors have been paid on their invoices as soon as they are approved, rather than waiting for the general contractors or project owners to pay. Thanks to Raistone, these subcontractors have more cash, allowing them to submit more competitive bids and win more jobs.
Key benefits of
working with Raistone
Billions of dollars in financial transactions enabled by Raistone every year, with facility sizes ranging from $50K to $500M.
Strong partnerships with world-leading institutions including Mastercard, SAP, and Oracle.
Robust solutions including Virtual Cards (vCards), Supply Chain Finance, Accounts Receivable Finance, and Flex Pay.
A world-leading fintech owned by a full-service broker dealer, a $30 billion family office, a $900 billion wealth manager, and an international bank.