Speedchain is a blockchain-based payment platform that enables real-time tracking and verification of transactions between entities exchanging goods and services. This technology provides transparency in payment processes, allowing users to monitor transaction visibility and reduce the risk of fraud.
Funding
$400K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Construction companies often face challenges in tracking and managing expenses across various projects and teams, leading to budget overruns and difficulties in maintaining financial control. Traditional expense management processes can be manual, time-consuming, and prone to errors, hindering real-time visibility into spending activity.
Solution
Speedchain provides a commercial card and expense management platform designed specifically for the construction industry, offering real-time visibility and control over project spending. The platform enables companies to issue physical and virtual cards to field and finance teams, track every dollar spent against the budget, and gain AI-powered insights into pricing and spending behavior. Speedchain streamlines receipt management, automates job cost tracking, and integrates with project management software and ERP systems to optimize project-level accounting.
Target Audience
Speedchain primarily targets construction companies, including finance teams, project managers, and superintendents, seeking to improve expense management, reduce costs, and gain better financial control over their projects.
Features
- Commercial credit and debit cards with customizable spend controls and real-time transaction tracking
- Virtual cards for secure online payments and vendor management
- AI-powered receipt capture and management with automated transaction coding assistance
- Integration with project management software and ERP systems for streamlined job cost tracking
- Real-time expense reporting and analytics dashboard for enhanced visibility into spending patterns
- Automated approval workflows for efficient invoice processing and payment authorization
- Supplier management tools to optimize vendor payments and capture early payment discounts
- Integration with Mastercard supplier preference data to identify suppliers likely to accept card payments