Contractors wait months to get paid: Prolo raises £4.2M to fix that with AI and credit — TFN

Prolo, a London construction procurement startup, has raised £4.2 million in an oversubscribed Seed round led by Triple Point Ventures.

The startup combines AI-powered sourcing with up to 90 days of flexible credit, helping small contractors overcome cash-flow challenges that limit access to larger projects.

According to Prolo, supply chain disruptions and manual workflows cause approximately 40% of construction projects to run about five months behind schedule, citing the Chartered Institute of Building.

James Morris-Manuel initially aimed to improve procurement, not create a lending platform. However, Prolo introduced a key feature: offering contractors 90 days of credit to address payment delays that often last months.

Prolo secured £4.2 million in seed funding, its first external capital since founding in June 2024. Triple Point Ventures led the round, joined by Anamcara Capital, Concrete VC, Foundation Ventures, Haatch, Koro Capital, Love Ventures, and Portfolio Ventures. The round was oversubscribed, with eight investors forming a broad syndicate for this stage.