MasonPe provides financing for construction materials, enabling contractors to purchase supplies upfront and manage cash flow. Their platform allows contractors to take on more projects by ensuring timely access to essential materials, streamlining the construction process.
Funding
Funding not disclosed
Founders
Product
Problem
Construction contractors often face challenges in securing upfront financing for materials, which can restrict their ability to bid on projects and manage cash flow effectively. This can lead to delays, project stagnation, and missed opportunities for growth.
Solution
MasonPe provides a financing platform that enables contractors and builders to purchase construction materials upfront and manage their cash flow over a 120-day repayment period. The platform offers collateral-free credit, up to 32% of the project value, determined by analyzing the contractor's CIBIL score and tax filings. By providing access to instant cash buying power, MasonPe empowers contractors to bid on larger projects, negotiate better rates with suppliers, and maintain control over their finances.
Target Audience
MasonPe primarily serves construction contractors, builders, and subcontractors who require financing solutions for material procurement.
Features
- Project-based line of credit accessible through a mobile application
- Credit limits up to 32% of the project value, determined by CIBIL score and tax filings
- Collateral-free credit with mandatory E-NACH setup for approved amounts
- Repayment period of up to 120 days, with an initial 21-day interest-free period
- Direct material delivery to the job site upon credit approval
- Works with any supplier in the country