Struxtion
“Can a construction-native fintech own the entire payment and working-capital layer between general contractors, subcontractors, and project owners?”
Founded2020
HQCincinnati, OH, USA
FoundersGregg Lund
Total raised$5.5M
Latest roundSeed, 2022
IndustryVertical SaaS / Construction
The story
Founded in 2020 as an online loan marketplace for commercial construction contractors, Struxtion quickly expanded beyond lending to build a broader payment-as-a-service platform (XPay) specifically for general contractors and their trade partners. The company embedded working capital financing, digital lien waivers, joint checks, and ACH rails into a single construction-native workflow. Its 2022 partnership with Solid Financial Technologies provided the BaaS layer supporting embedded banking and ACH transaction processing.
Last 12 months
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Product timeline
2020
Struxtion founded by Gregg Lund in Cincinnati to address cashflow and payment challenges in commercial construction.· pivot
2022
Closed $5.5M seed round led by North American Properties and announced partnership with Solid Financial Technologies for BaaS infrastructure.· banking
2022
Launched XPay, a self-administered payment platform for general contractors featuring ACH, paper check, digital lien waivers, and joint checks.· banking
2022
Launched early payment / working capital financing program for subcontractors embedded in the XPay workflow.· lending
The stack
4 layers disclosed in Struxtion’s embedded-finance stack
Payments / PSP
Money movement
in the full report
Banking / BaaS
in the full report
Lending
in the full report
Accounting gap: significant
4 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.