BuildStock, a NYC-based B2B marketplace and provider of a fintech platform for construction materials, raised $1.6M in Pre-Seed funding.
The round saw participation from Precursor, MGV, XFactor, RefashionD and angels, including Osuke Honda (DCM), Nihal Mehta (Eniac), Shruti Gandhi (Array Ventures), Tom Peterson (Rally Ventures), Yun-Fang Juan, and Mark G (m]x[v Capital).
The company intends to use the funds to scale, expand third-party FinTech, AI and logistics integrations and bring more participants into the marketplace.
Led by Kathryn Thiele AIA, Founder and CEO, Buildstock is a centralized marketplace that brings discovery, transparency and payments to the construction materials industry. Using it, buyers can compare vendors, get clarity on pricing and lead times and finance payments instantly. Materials suppliers can get increased volume and payment timelines. Instead of waiting 30, 60 or even 90 days, suppliers can receive payments in as little as 5 days.
FinSMEs
22/02/2024