BuildStock, a New York City-based B2B marketplace and provider of a fintech platform for construction materials, has successfully raised $1.6 million in Pre-Seed funding. This funding round witnessed participation from Precursor, MGV, XFactor, RefashionD, and notable 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).
Led by Founder and CEO Kathryn Thiele AIA, BuildStock is a centralized marketplace dedicated to bringing discovery, transparency, and efficient payments to the construction materials industry. The freshly secured funds will be utilized to scale operations, expand third-party FinTech, AI, and logistics integrations, and attract more participants to the marketplace.
Buyers utilizing BuildStock can conveniently compare vendors, obtain clarity on pricing and lead times, and even finance payments instantly. On the supplier side, material providers can benefit from increased volume and accelerated payment timelines, with the possibility of receiving payments in as little as 5 days, as opposed to traditional waiting periods of 30, 60, or even 90 days.
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By Proptechbuzz
By Ravi Kumar
