Struxtion offers a technology-enabled payment platform specifically designed for the commercial construction industry, facilitating secure electronic and paper check disbursements while integrating digital lien waivers and joint checks. The platform addresses the complexities of capital flow in construction by providing specialized financial tools that enhance payment efficiency and reduce financial risk for all stakeholders.
Funding
$5.5M 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
The commercial construction industry faces challenges with complex capital flows, including delayed payments, the risk of liens, and the administrative burden of managing paper checks and lien waivers. Traditional payment methods lack transparency and efficiency, increasing financial risk for all stakeholders involved in a construction project.
Solution
Struxtion provides a payment platform tailored for the commercial construction sector, streamlining the disbursement of funds and mitigating financial risks. The platform enables secure electronic and paper check payments, coupled with integrated digital lien waivers and digital joint checks. By digitizing and automating construction payment workflows, Struxtion enhances payment efficiency, improves transparency, and reduces the potential for disputes. The platform offers customizable approval workflows and optional early payment programs, providing greater control and flexibility for payors and payees.
Target Audience
Struxtion serves general contractors, specialty contractors, vendors, owners, and developers involved in commercial construction projects.
Features
- Self-administered platform for inviting contractors, creating projects, and initiating bulk ACH and paper check payments
- Streamlined onboarding process for specialty contractors through system-triggered email invites
- Customizable approval workflows to control payment processes
- Payment options for all payee types, including digital joint checks and treasury management tools
- Conditional payments and digital lien waivers exchanged at the time of payment
- Optional early pay program (XPay+) for contractors to receive payment as early as one day after invoice
- Secure platform access with geofencing, controlled access, and multi-factor authentication
- Secure ACH connections via PLAID, fraud alerts, and payment lock-out periods after account changes
- Dedicated zero balance payment account with positive pay and checks issued without corporate account numbers