Buildstock Secures $1.6M in Pre-Seed Funding to Expand Construction Material Marketplace & Fintech Platform
NEW YORK, Feb. 22, 2024 /PRNewswire/ -- Buildstock, the B2B marketplace and fintech platform for construction materials, secures $1.6M in pre-seed funding from Precursor, MGV, XFactor, RefashionD and visionary 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 platform empowers builders and suppliers by streamlining sales and procurement, driving savings of money and time. This funding enables Buildstock to scale, expand third-party FinTech, AI and logistics integrations and bring more participants into the marketplace.
- This funding enables Buildstock to scale, expand third-party FinTech, AI and logistics integrations and bring more participants into the marketplace.
- Late payments cost the $1.4 trillion construction materials industry over $208B in 2022, up 53% from 2021.
- Buildstock's marketplace and Fintech solutions solve this by creating unprecedented procurement efficiency.
- Construction is ramping up everywhere and there is a need for both construction companies and suppliers to have a centralized marketplace.