Tseung Kwan O's Riverchain Tackles Labor Disputes and Financing Problems in the Construction Sector

Riverchain's Solution to Construction Sector Challenges

Tseung Kwan O's Riverchain steps into the void left by banks, offering solutions for construction subcontractors grappling with liquidity issues and labor disputes. As the construction sector faces a downturn, subcontractors like Chan have reported delays in payments, leading to significant working capital shortages. In this context, Riverchain's services aim to alleviate these financial burdens by transforming accounts receivable into immediate cash.

Empowering Subcontractors with Digital Financing

Through an efficient online platform, Riverchain provides quick cash advances based on project invoices, significantly reducing the wait time for funds. Chan’s experience exemplifies the pressing need for accessible financing methods in a sector traditionally hindered by lengthy payment processes. CEO Ben Wong emphasizes the need for fintech solutions tailored to the unique challenges of the construction industry.

The Future of Construction Financing in Southeast Asia

With plans to expand beyond Hong Kong, Riverchain could play a crucial role in Southeast Asia's construction ecosystem, promoting liquidity and financial innovation in markets faced with similar delays and digitalization challenges.