Doxa Holdings International Pte. Ltd. (Doxa), a Singapore-based fintech startup, said Monday it has successfully concluded its S$3 million ($2.21 million) pre-series A funding round from financial institutions including venture capitals, public listed and logistics corporations.

Doxa said in a statement that it plans to use the incoming funds to accelerate its traction in the built environment by investing in sales and marketing, strengthening their product offerings and expanding into the region. The team has already doubled in size since the past year.

Doxa, founded in 2019 by Singaporean Co-Founders Edmund Ng and Leon Yeo, serves multiple large clients with their seamless enterprise-grade procure-to-pay platform which leverages on the blockchain for construction and real estate developers. Major developer and construction firms are among their clients.

The company offers a modern procurement-to-payment platform with integrated payments and financing for the built environment.

Commonly thought of as a traditional industry, the built environment sector has been undergoing rapid transformation while implementing many high-tech solutions during and after the pandemic. Back-office automation, like vendor relationship management and data analytics, has always remained under the radar, but Doxa is pioneering the way to make it relevant and delightful for management and end-users alike.

The company has started revolutionizing the construction and real estate developer workflows by facilitating end-to-end digitalization of procurement, payment, and financing through a single platform — Doxa Connex. All external parties and stakeholders will be able to collaborate efficiently within the same page on the same system in the cloud, bringing real-time notifications and approvals.

“The construction industry is identified as one of the least digitalized industries. Today at Doxa, we are grateful to have this opportunity to contribute to the transformation journey of this sector,” said Edmund Ng, Co-Founder and Chief Executive Officer of Doxa.

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