BlueTape, a San Francisco, CA-based payments and financing provider for the construction industry, raised $55M in funding.
The round oday included $50M debt funding led by Arcadia Funds and a $5M seed round led by Chicago Ventures with participation from construction industry executives, real estate developers, and Plug and Play Ventures.
The company intends to use the funds to increase lending, expand its team, and develop new products for construction businesses.
Led by CEO Yaser Masoudnia, BlueTape provides construction industry businesses with payment and financing solutions to pay for building materials on the go. Managing invoices, collecting payments, and paying bills with BlueTape on mobile is convenient for construction pros who are always on the move. All loans on the BlueTape platform are originated by CBW Bank, member FDIC.
FinSMEs
19/08/2022