reebuild secures €3M to automate financial workflows in construction

Vienna-based construction technology firm reebuild has secured €3 million in seed funding to develop its AI-driven back-office automation system for construction and real estate businesses. The investment round was spearheaded by Fortino Ventures, with Rise PropTech and CuriosityVC joining as co-investors. The startup's software aims to streamline administrative and financial operations, such as invoice processing, cost management, and material tracking.

Traditionally, construction firms and property developers have relied on manual spreadsheet management and cumbersome processes for handling invoices, contracts, and project costs. This often results in delays in approvals, limited insight into project finances, and missed chances to cut costs. Reebuild seeks to alleviate these issues by automating routine administrative duties and offering real-time financial data access.

The platform can process various documents, including invoices, delivery notes, order confirmations, and scanned records, converting them into organized data. It automatically links related documents, recalculates invoice amendments, and employs AI agents to assign tasks and suggest next steps. Despite employees retaining final approval rights, the software manages document processing, matching, and calculations.

Alexander Kornell, CEO and founder of reebuild, commented on the construction industry's dependence on outdated administrative procedures. "We understand these challenges firsthand, and we develop reebuild in close collaboration with our customers, reflecting the realities on site," he stated. Traditional software used in the industry has remained largely unchanged for decades, falling short of modern expectations.

According to reebuild, its technology can cut invoice processing time from over 20 minutes to approximately three minutes and reduce approval timelines from five days to around one and a half days. Early customer feedback suggests potential procurement cost reductions of up to 20 percent. The company currently supports more than 120 companies across 8,200 construction sites and projects, processing invoices totaling more than €530 million.

Reebuild is also expanding its AI-powered capabilities to automate additional commercial processes, such as project estimation, on-site documentation, and accounting. The goal is to further diminish administrative burdens across the construction sector. With the new funding, the startup plans to expand its operations beyond Austria and Germany into other European markets, enhance its AI-driven modules, and increase its workforce in Vienna.