Graneet raises € 2,4 million to help construction SMEs manage their business better

Construction represents nearly 10% of GDP in Europe for 3 million companies, mostly SMEs, and is one of the least digitized industries. If construction is a key sector of the economy, every year in France, 10.000 construction companies go out of business. Graneet was created in 2020 with the aim of solving this problem.

Graneet has developed the first commercial management solution for construction SMEs that helps them boost their margins and make their invoicing more reliable while saving them precious time.

Concretely, the solution allows companies to quantify their projects in disbursements, to create quotes, to follow their commercial opportunities, and to generate their progress invoices without errors by managing all the parameters specific to the construction industry. They are also paid more quickly thanks to better monitoring of activity via dashboards. The whole company can collaborate within the same platform, which allows considerable gains in efficiency.

Graneet addresses all construction trades, with clients in the Structural Work, Second Work or Public Works.

"This fundraising validates our initial successes and will give us the means to accelerate the development of our solution. We will add key functionalities for our customers, such as the automatic reminder of unpaid invoices, the generation of supplier purchase orders. , the consultation of subcontractors, or the digitalization of the collaborative process for validating work situations between the company and its client. We are developing these functionalities in co-construction with our clients, in order to ensure that they will simplify their daily lives and help them run their businesses even more efficiently. " explains Jean-Gabriel Niel, CEO of Graneet.

“At Point Nine, we've been investing in industry-specific SaaS for over 10 years, and we've always kept an eye on the construction industry. Graneet addresses the major problem of financial management and more generally the financial health of construction SMEs. SMEs represent almost the entire construction market in Europe and generate most of the sector's volume of activity. The product that the Graneet team is developing will allow these companies to better plan and monitor their activity, reduce payment delays and better control their margins while ensuring they generate the profits they expect from their operations. ” says Ricardo Sequerra, Partner at Point Nine.

“We are witnessing a fundamental trend in several global markets towards the development of solutions that simplify the management of the activities of SMEs. Graneet is ideally positioned to take advantage of this trend in Europe. The team's execution capacity has impressed us and has a similar trajectory to the leading SME management solutions that can be seen in the United States and Asia. ” details Patric Hellermann, General Partner of Foundamental.