Procore Needs to Be Visa, Not Amex - by Victor Muchiri

Procore has some of the richest corpus of job-level construction data in the U.S. - daily logs, RFIs, submittals, schedules, vendor relationships, delays, and payment history. But data alone doesn’t create leverage. What Procore lacks is an underwriting engine. A system that converts raw information into risk, liquidity, and trust signals that power payments, insurance, and finance across the industry. Right now, Procore is underwriting workflows. But not outcomes. The Difference Between a Function and an Engine and the Missing Layer Function: Static forms, checkbox compliance, project-level risk assessments. This is where Procore sits today. Manual, isolated, surface-level. Engine: A dynamic, continuously learning system that ingests structured and unstructured project data, integrates external financial signals, and outputs risk-adjusted decisions to be applied in payments, insurance, or lending. Stripe built one for fraud. Root tried to do it for auto insurance. Plaid enabled it for

Procore has some of the richest corpus of job-level construction data in the U.S. - daily logs, RFIs, submittals, schedules, vendor relationships, delays, and payment history. But data alone doesn’t create leverage. What Procore lacks is an underwriting engine. A system that converts raw information into risk, liquidity, and trust signals that power payments, insurance, and finance across the industry. Right now, Procore is underwriting workflows. But not outcomes. The Difference Between a Function and an Engine and the Missing Layer Function: Static forms, checkbox compliance, project-level r