Trunk Tools Raises $9 Million for Faster Construction Pay
Construction-focused FinTech Trunk Tools has raised $9 million to help workers get paid faster.
The company’s seed round, announced Thursday (July 13), comes at a time when instant payroll is becoming increasingly important to workers.
“The manufacturing and construction industries have grappled with a labor shortage and productivity crisis that Trunk Tools is solving,” founder and Chief Executive Dr. Sarah Buchner said in a news release.
She noted that job openings in the construction space are at a record high, with 4 in 10 craft workers expected to retire in the next five years.