CutStruct Raises over $600,000 to Create Construction Procurement Platform Dike Onwuamaeze CutStruct Technology has raised $600,000 (over N265.896 million) to build its premier product, LiveVend, which is a construction proc
CutStruct Technology has raised $600,000 to build its premier product, LiveVend, which is a construction procurement platform that would enable real estate developers to engage vetted vendors on a simple and transparent platform. Subscribers to the LiveVend platform would also enjoy other services like transportation, goods-in-transit insurance and trade credit which is offered by Sterling Banks’ buy-now, pay-later product that is called “Specta for Business.
The Chief Executive Officer of CutStruct, Mr. John Oamen, said the platform would, “connect construction vendors to buyers. All the complex work takes place in the background. The vendor vetting, sorting out the appropriate logistics, ensuring the goods are insured, guaranteeing fulfillment and securing financing – these are the complex things we do in the background, while our users engage with a simple platform.
A Partner at DFS Lab, Mr. Stephen Deng, said: “We invested in John, Tayo and the Cutstruct team because we also believe in the untapped potential within the construction vertical in Nigeria and across Africa. The CEO of Zedcrest Capital, Mr. Dayo Amzat, also explained why his company backed CutStruct. Amzat saying: “Over the last decade, Africa in general, has seen tremendous improvement in many sectors of the economy ranging from payments, e-Commerce, banking, telecoms etc.
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