#185 - Changing Financial Transactions in the Construction Industry with Matthew Smith from Mazumago

Jun 29, 2022

MazumaGo began as a payment service for small businesses, but speaking with business owners in the construction industry made Matthew Smith and his Co-Founder realize which industry needed it the most!

Regardless of size, most construction businesses were still using checks to send and receive payments, resulting in long payment delays and cash flow issues along the construction supply chain.

Their team kept asking, “Why is it so hard for contractors to send large payments online?” and decided to focus exclusively on digitizing construction payments. It is their mission to enable all construction companies to move money instantly and freely, without the barriers of traditional banking.

 

Plans - Passive Design Solutions - The Conscious Builder

The Conscious Builder Promo (mazumago.com)

 

2:40 Background - software engineer 

3:30 Why are we still using cheques? 

3:55 System built in the 70’s

8:12 How does Mazumago work 

12:00 Surcharges 

20:58 Operations costs