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Charles Fages

Co-founder @ Furo

Charles Fages is the Co-Founder of Furo, a billing platform that simplifies quotes, invoices, collection, and reconciliation processes.13 He has been in this role since January 2023.5 Prior to co-founding Furo, Fages held a significant position at Airbus Ventures, where he worked as an Associate from 2018 to December 2022.54

Furo, under Fages' leadership, aims to streamline the entire billing process for businesses, from the customer's agreement to the final payment.1 The company is headquartered in Los Angeles, US, and currently has between 1-10 employees.13

Fages is active on LinkedIn, where he shares updates about Furo's developments, including blog posts about the company's services.2 His LinkedIn profile indicates that he has over 500 connections, highlighting his professional network in the industry.3

Highlights

Apr 29 · linkedin

“My dream is to have my Subcontractors paid on a same-day basis” – General Contractor's quote.

The Construction industry has long been plagued by the "pay-when-paid" norm, primarily due to the rigid payment terms set by owners and developers. Also the Construction payments are not just payments, they are workflows, full of friction, manual Pay App submissions, reviews, approvals, corrections, physical checks... These are inherent to building new hospitals, stadiums, schools in good stand with many stakeholders involved in huge amounts of transactions.

The consequence? 45 to 100 days to get paid for most Subcontractors after Pay App approval (yes! approval, not just submission). Subcontractors essentially become financiers of the Construction industry, a reality that should not be.

What's heartening, however, is the growing number of GCs sensitive to pay their Subs faster, trying different workarounds. Some would release upfront payments for their smallest and cash-sensitive Trade Partners. Other would select carefully which Subs to pay in 5/10days and take the hit from their balance sheet ( 👏 )! But at the end “we’re just not a bank!” we heard, and such initiatives are cash-consuming and add extra process.

How long does it typically take for you to release payments [GCs] or receive payments [Subs]? What steps are you taking to expedite this process?

Jan 16 · linkedin

Engaging with customers has highlighted a common challenge: many billing and payment systems don't align with current B2B processes. The combo of QuickBooks, Stripe Billing, and offline payments often falls short. The same applies to quoting in Salesforce, signing order forms in PandaDoc, and invoicing/collecting through ChargeBee. The list goes on.

Unfortunately, this often leads to manual workarounds like tweaking Excel spreadsheets to bridge the gap between software tools. The result? Errors, payment delays, and bottlenecks in customer closures.

This issue is amplified for vertical softwares dealing with legacy systems inherent to their industry (SAP Ariba, Coupa Software, BILL... 👋) while striving to automate processes for the "self-served" or "product-led-growth" era.

What's your stack? How do you tackle the data gap? How many hours per month does it take to reconcile? Feel free to share your feedback too!

Related Questions

What inspired Charles Fages to co-found Furo?
What are Charles Fages' main responsibilities at Furo?
How did Charles Fages' education at CentraleSupélec influence his career?
What challenges has Charles Fages faced in his role at Furo?
How does Furo's billing platform differ from other similar platforms?
Charles Fages
Charles Fages, photo 1
Charles Fages, photo 2
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Location

Los Angeles, California, United States