Grand, an AI-driven fintech firm focused on developing a payment network for the construction, manufacturing, and trade supply sectors, has successfully secured $5 million in pre-seed funding. This financing round was led by 20VC, with additional contributions from NAP and firedrop.
The funds will be utilized to enhance Grand’s core mission: transitioning from outdated static credit reports to a dynamic, real-time assessment of business behavior. The company’s inaugural product, Grand Profile, is designed to deliver early indicators of risk and growth, empowering businesses to better understand their trading counterparts and respond proactively to emerging insights.
Grand highlights the enormity of the challenge it seeks to address: B2B transactions in the construction, trading, and supply chain sectors surpass $15 trillion worldwide. Despite this, credit decisions related to these transactions often depend on information that may be months or even years outdated. In 2023 alone, the UK reported over 25,000 company insolvencies—the highest in three decades—leaving unsecured creditors with little to recover.
The company is building an AI-based trust network that will continuously monitor risk, growth, and stability among trade partners. This system will flag early signs of increasing risk or improving reliability in real time. Ultimately, Grand envisions expanding its platform into a comprehensive payment network, enabling businesses to confidently extend credit, transfer funds, and conduct transactions across the trade supply chain.
By fostering a more transparent and responsive trading environment, Grand aims to significantly reduce the risks associated with B2B transactions. This innovative approach not only provides businesses with the tools to mitigate risks but also streamlines operations within the construction and supply chain industries.
As the fintech landscape evolves, ventures like Grand are crucial in redefining traditional business practices. Their focus on real-time data utilization can potentially transform how companies assess creditworthiness and manage relationships in the competitive B2B arena.