IPEX
Our company
Our vision
The construction industry has the highest rate of insolvency across all industries in Australia. The driving force behind IPEX is a desire to create real change in the construction industry, protecting the whole supply chain by ensuring that project funds are held securely, distributed correctly, and used only for their intended purpose.
Whilst IPEX clearly erodes much of the nervousness amongst developers and lenders created by multiple, high-profile builder insolvencies, equally, we see IPEX as a tool with the potential to deliver financially stable, well-managed builders with the more favourable payment conditions they’ve long been appealing for, from reduced upfront security requirements and the release of funds in advance at critical stages of the build to ultimately, healthier margins.
We are working to provide developers and lenders with a level of security that renders any standard payment process that places undue financial stress onto the builder redundant and which ironically, may well be the motive behind some of the riskier industry practices putting developer/lender and subcontractors payments at risk in the first place.
Our vision is to contribute to positive change at every level of the construction industry, one that sees all stakeholders benefit to the extent that all opt in willingly, making government intervention unnecessary.
Our team
With over 70 years of property development, building and subcontracting experience in the founding team, we’re well aware of how difficult it can be to get paid!
Despite the many contracts, clauses and processes surrounding payment within the construction industry, there is very little transparency or control over when or how funds are actually distributed. Standard industry practices further contribute to risk factors for many stakeholders and we felt that there simply had to be a better way.
We set out to develop a payment exchange platform specific to our industry that would create an invisible fence around each protect, protecting the stakeholders involved and creating a level of trust and transparency never before seen in the building industry.
Having an experienced founding team to help solve this problem has been a key to IPEX’s success, we all bring a unique set of skills that has propelled us forward and enabled an idea to become reality.
Use cases
Who benefits
Developers
Stop paying other developers’ bills. Deter distressed builders from tendering and protect your project against future unforeseen builder cashflow issues.
Builders
Leverage your strong financial position into more contracts and better commercial terms without sharing commercially sensitive information.
Lenders
The QS certifies progress, not payments. Payment transparency lets you validate ‘Cost to Complete’ forecasts against actual cash outflow & detect funding gaps before they become defaults.
Project managers
De-risk builder recommendations and identify non-payment of subcontractors/ suppliers immediately. Reduce reputational risk while maximising the chances of successful project delivery.
Subcontractors and suppliers
Work for builders who won’t risk your entitlements to cashflow other projects. Reduce your risk of non-payment in the event of builder insolvency.
Construction lawyers
Add practical controls to existing legal protections. Best practice risk mitigation for your property developer clients.
Who we
work with
Case studies
Customer success stories
Winim
Developer WINIM can now see that progress payments are going where they should; credits platform for removing key delivery risk…
Bluescope & Frasers
ASX-listed BlueScope and real estate manager Frasers Property have moved to protect $400M+ in funds set to be spent on upcoming projects behind the IPEX payments platform…
Balmain & Co
Why would a builder pro-actively offer to ‘ring-fence’ project funds & provide subcontractor payment transparency? We ask leading commercial builder Balmain & Co….