![NYC-based BuildStock secures $1.6million in pre-seed funding. Participating in the round were angel investors Osuke Honda (DCM), Nihal Mehta (Eniac), Shruti Gandhi (Array Ventures), Tom Peterson (Rally Ventures), Yun-Fang Juan, and Mark G (m]x[v Capital), as well as Precursor, MGV, XFactor, and RefashionD.](https://startuprise.io/wp-content/uploads/2024/02/NYC-based-BuildStock-Secures-1.6Million-in-Pre-Seed-Funding-2.webp)
NYC-based BuildStock secures $1.6million in pre-seed funding. Participating in the round were angel investors Osuke Honda (DCM), Nihal Mehta (Eniac), Shruti Gandhi (Array Ventures), Tom Peterson (Rally Ventures), Yun-Fang Juan, and Mark G (m]x[v Capital), as well as Precursor, MGV, XFactor, and RefashionD.
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With the money, the firm hopes to grow, add additional players to the market, and extend third-party FinTech, AI, and logistical connections.
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Buildstock is a centralised marketplace that offers payments, transparency, and discovery to the building materials sector. It is led by CEO and founder Kathryn Thiele AIA. Buyers can use it to compare suppliers, understand lead times and prices, and quickly finance payments.
Suppliers of materials may receive longer payment terms and higher volumes. Suppliers can get payments in as little as five days, as opposed to waiting thirty, sixty, or even ninety days.
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About BuildStock
Buildstock is a venture-backed B2B marketplace for building materials that offers vertical software and fintech services to suppliers and purchasers of basic building supplies. Within a trillion-dollar business, they streamline procurement timeframes, save money on supplies, and enhance both parties’ cash flows and terms of payment.
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