Contractors wait months to get paid: Prolo raises £4.2M to fix that with AI and credit

Prolo, a startup founded by James Morris-Manuel, has raised £4.2 million to use AI and credit to solve payment delays for contractors, who often wait months to get paid. The company initially focused on procurement but pivoted to address the cash flow gap by offering faster payment solutions.

James Morris-Manuel initially aimed to improve procurement, not create a lending platform. However, Prolo introduced a key feature:…