Speedchain expands commercial cards and AI expense management

Speedchain raises $111 million in a strategic mix of equity and debt to expand commercial card programs and AI-powered expense management for construction and project-driven industries

Speedchain Inc., a fintech company focused on the construction and project-based economy, announced a close of $111 million in financing described as a strategic blend of debt and equity. The financing is aimed at accelerating the company’s national expansion, product innovation, and go-to-market efforts while modernizing financial workflows across frontline operations and back-office finance teams.

The debt portion is provided by Community Investment Management, while the equity side comes from a group of investors that includes GTM Fund, Village Global, TTV Capital, K5 Global, Tandem, and Emigrant Bank. The funds are earmarked to speed up the company’s national expansion, accelerate product innovation, and support a broader go-to-market strategy. A key focus is to modernize financial workflows across construction and other project-driven industries.

As part of the plan, Speedchain will roll out new modules that focus on predictive coding and automated receipt workflows, expanding the platform’s capability to handle real-time project costs and receipts across multiple jobs.

Product and platform capabilities

The Speedchain platform offers real-time visibility and control over project-level spending, coupled with AI-powered receipt management and end-to-end visibility and efficiency for project spending and corporate expense processing. It is designed to integrate seamlessly with ERP systems and other enterprise tools to bridge frontline operations and back-office finance.

In practical terms, project managers and superintendents can track job costing in real time, reducing the need to wait for month-end reconciliations. The approach aims to reduce delays, improve accuracy, save time, and enable dynamic management of project expenses amid rising material costs and complex budgets.

Speedchain’s card program is offered through Mastercard’s World Elite business network, promising enhanced purchasing power, rewards, and streamlined expense processing by pairing Speedchain’s software with Mastercard’s global reach. The company also notes an integration partnership with Procore.

People, partnerships, and strategic positioning

The company appointed Dennis Lyandres to its Board of Directors, bringing experience from roles at Cloudera and Procore. Speedchain formed a national partnership with the Associated General Contractors of America (AGC) to extend its reach across the construction industry.

In positioning, Speedchain describes itself as a global provider of modern commercial card programs and advanced expense management solutions, focused on connecting frontline spending with back-office accountability to drive efficiency and growth.

The financing is described as a milestone that will accelerate go-to-market efforts, product updates, and national expansion, while continuing to modernize financial workflows in industries that have historically been underserved.

Context and takeaway

Speedchain markets itself as a global provider of modern commercial card programs and advanced expense management solutions, aiming to bridge frontline spending and back-office processes for greater transparency and efficiency.

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