Assembly Line

Buildstock Secures $1.6M in Pre-Seed Funding to Expand Construction Material Marketplace & Fintech Platform

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: Buildstock

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. 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.

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. With Buildstock, builders enjoy AI-driven product discovery, as well as substantial cost savings—as high as 40%—on materials and 5x faster lead times. Additionally, they get transparency into lead times and tracking information to plan around deliveries of supplies. Buildstock even offers a feature that takes blueprint files and uses AI to generate a list of needed supplies, further streamlining the procurement process.

Read more at PR Newswire