More than 6,000 new Australian subcontractors will gain access to crucial on-demand liquidity through Earlytrade to support more sustainable project delivery, as the construction sector faces rampant inflation and a $218 billion infrastructure pipeline.
Earlytrade today announced that three new construction partners will launch its award-winning on-demand early settlements platform to their supply chains within weeks.
Guy Saxelby, CEO & co-founder at Earlytrade, said the economic benefits from a tsunami of public and private investment being channelled into construction activity was not guaranteed for the nation.
“If we are to reap the economic benefits, some changes need to be made. The cost of maintaining the status quo is a big risk,” he said.
“Striking a balance between managing inflation, delivering a huge pipeline of work, and creating collaborative subcontracting partnerships is the challenge of the next few years.
“Only purpose-built tech, like Earlytrade, enables that collaboration to occur at scale so cash flow can move through supply chains more productively.”
Earlytrade’s newest signings include top retail builder, Mainbrace, industrial and commercial Design & Construct specialists, Texco Construction, and electrical engineering, installation, and maintenance leader, Fredon.
“In this operating environment, collaborative contracting is key. Earlytrade allows Mainbrace to give our subcontractors flexibility and working capital on-demand, so they can get the job done.” said Jaco Steyn, CFO at Mainbrace.
Earlytrade is an award-winning Australian B2B contech-fintech designed to drive working capital flexibility and collaboration between head contractors and their subcontractors. With more than 77,000 business able to access billions in on-demand liquidity via early settlements, Earlytrade is the largest working capital marketplace in Asia Pacific.
Earlytrade continues to expand and evolve its SaaS solutions to address important ESG issues through supply chains, with its enterprise partners including Boral, Richard Crookes Constructions, Cleanaway, and other forward thinking corporates.
The Australian Financial Review has recognised Earlytrade as one of Australia’s most innovative companies for the work it does to deliver ESG and commercial impact.