reebuild, a startup in Vienna, Austria, that automates the paperwork behind construction projects, has raised more than €3M in a seed round. Fortino Ventures, the venture arm of the Antwerp-based investment firm Fortino Capital, led the round. Rise PropTech, a property-technology fund in Liège, Belgium, and CuriosityVC, an early-stage investor in Amsterdam, also took part.
The company plans to use the money to grow in Germany, enter more European countries and build new artificial intelligence (AI) features that would cover a project’s finances from the first cost estimate through to the accounts. It has named Italy and Poland among the next markets it wants to enter, and it plans to hire at its Vienna headquarters, where it employs about 25 people.
reebuild’s software reads the invoices, delivery notes and order confirmations that pile up on a building project, turns them into structured data and checks each invoice against what was ordered and delivered. Where the figures do not match, it recalculates the correction, and it then routes the invoice to the right person for approval.
“We know the problems of this industry firsthand,” said Alexander Kornell, the company’s founder and chief executive.
Paperwork From The Building Site
A builder may run many sites at once, and each delivery of concrete, steel or fittings comes with its own paperwork. Site managers photograph delivery notes in reebuild’s app, while invoices arrive by email, as scans or as electronic files, and the software reads all of them line by line rather than just copying the total.
Once the documents are in, reebuild matches each invoice to its order confirmation and delivery notes, produces a correction sheet where a supplier has overcharged and suggests how the invoice should be booked in the accounts. It also tracks planned against actual spending on each project, keeps a database of past prices for materials and warns staff before the deadline for an early-payment discount runs out.
AI agents prepare these tasks and suggest the next step, but people make the approval decisions, and the system learns from the choices that managers make.
“The software many construction companies and developers still work with today has barely evolved in decades,” Kornell said. reebuild’s longer-term plan is what it calls an “agentic back office”, in which AI agents prepare most of a builder’s administrative work for staff to approve.
The company says customers have cut the time spent handling an invoice from more than 20 minutes to about 3, and the time from receipt to approval from five days to about one and a half. Some customers report savings of up to 20% on purchasing costs, according to the company, though it has not published how those figures were measured.
From Vienna Into Germany
Kornell co-founded reebuild in 2022 with Paul Lind and Lucas Iser, and the product began as a tool for ordering building materials before it grew into a full back-office system. He and Matteo Cimadom, now its chief revenue officer, both come from families that run construction businesses. Early backers included Domagoj Dolinsek, co-founder of the Vienna construction software company PlanRadar, the Viennese business angel Hansi Hansmann and Peter Steinberger, founder of the software company PSPDFKit.
reebuild says it now works with more than 120 construction companies and property developers in Austria and Germany, covering more than 8,200 sites and projects. It has processed more than 345,000 documents and approved more than €530M in invoices, a measure of the money flowing through its system rather than its own revenue. Named customers include Kratzert Gruppe, Rödl & Herdegen, Pittel+Brausewetter and 3SI Immogroup.
Fortino Capital closed a €105M second venture fund in 2021 and backs business software and AI companies from offices in Antwerp, Munich and Amsterdam. Rise PropTech, launched in 2021, invests about €500,000 to €3M at a time in property and construction technology firms at late-seed and Series A stage in the Benelux, German-speaking countries and France. “reebuild is the right team to execute on this,” said Wouter Goossens, a partner at Fortino Ventures.
The software connects directly to accounting systems widely used in German-speaking countries, including DATEV, BMD, BRZ and RZL. It handles the main European electronic invoice formats, hosts its data in Germany and stores records in the tamper-proof form that German bookkeeping rules, known as GoBD, require.
A Sector Under Pressure
Germany is the biggest construction market in the European Union (EU), with €464bn of construction investment in 2024, about a quarter of the €1,821bn total across the 27 member states, according to the European Construction Industry Federation. A 2017 study by the McKinsey Global Institute found that the sector’s labour productivity had grown by only about 1% a year over the previous two decades, against 3.6% in manufacturing, and ranked it last among European industries for digitisation.
German construction companies paid their suppliers’ invoices an average of 15 days late in the first quarter of 2026, up from 13.5 days a year earlier and about twice the 7.7-day average across all sectors, the credit agency Creditreform found. Construction had the third-highest insolvency rate of any German sector in 2025, at 104 per 10,000 companies, according to the Federal Statistical Office (Destatis). In Austria, the creditor protection group KSV1870 counted 1,080 construction insolvencies that year.
Since January 2025, every German business has had to be able to receive electronic invoices, and the obligation to issue them starts in 2027 for companies whose turnover exceeded €800,000 in 2026 and in 2028 for all others. These requirements push builders still working with paper and PDF files towards systems that can read structured invoices.
Rivals At Home And Abroad
In Munich, comstruct, which digitises material purchasing and checks invoices against delivery records, raised €12.5M in February 2025 in a round led by GV and 20VC. Its Munich neighbour VESTIGAS raised an €8M seed round in April 2025 for digital delivery notes and automated invoice checks, and counts the Austrian builder Strabag among its more than 80 users.
Autodesk agreed in January 2024 to buy Payapps, an Australian company that handles payment claims between contractors, and general invoice tools such as Berlin’s Candis serve businesses of all kinds.
Company Figures, Not Yet Tested
Every usage and savings figure in the announcement comes from reebuild, and the company has not disclosed its revenue, its prices or the size of its earlier funding rounds.
The round has investors from Belgium and the Netherlands backing a Vienna company’s expansion in Germany, the EU’s largest construction market, at a time when electronic invoicing is becoming compulsory there.
