Cosuno predict that traditional methods of bidding and awarding construction services are obsolete, being associated with significant wasted time and a lack of transparency. The startup aims to solve this problem by developing a B2B marketplace that provides project managers access to a database of around 80,000 subcontractors related to the construction industry.
Their business model involves charging clients a monthly fee in order to have access to their Software-as-a-Service product. Clients advertise their project on the platform, receive applications from contractors in the area and approve the bids from the applicant selected. By 2021, over €1bn were processed in transactions through the platform since its conception.
The construction industry is currently experiencing rapid growth, leading to a scarce labor force and increased prices. Cosuno aims to capitalize on this opportunity by digitizing the construction industry and providing project managers with a one-stop shop that allows them to manage everything related to working with construction subcontractors on just one platform.
Kirsty
Company Specialist at Welcome to the Jungle