Revolutionary payment solution for the construction industry

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Security Type
Convertible Note
Technology, Financial Services, Infrastructure
Min Investment
Palo Alto, CA
Expected Close Date
April 30, 2023
Target Raise
No. Investors
Security Price
Number of Employees
Short Term Debt
Cost of Goods
Long Term Debt
Net Income

Key Deal Facts

🀝 $150M in signed credit agreements over next 12 months
πŸ’΅ $5.4M in projected annual revenue from existing signed credit agreements alone (not guaranteed)
πŸš€ Platform is already benefiting from network effect and viral growth
🎯 Disrupting $296 billion construction materials market
πŸ“ˆ Signed agreements projected to grow to $1 billion by 2026 (not guaranteed)
πŸ’‘ Providing liquidity to companies in massive construction market by offering flexible payments
πŸ†Fast and flexible invoice payment solution tailored for contractors and their material suppliers
⌚VC investors from Strawberry Capital and Ferd.

Management Team / Advisory Board Bios

Rune Skog CEOHighly experienced entrepreneur, 2 successfull startups | MS/BS from UCSD | Extensive experience from the construction industry, Bjørnar Skog CTOSolid CTO with 20+ years of experience | Managed teams of 5-20 people | Highly experienced developer, Nathan Kannady Chief Commercial OfficerSolid CCO with 12 years of Sales manager experience | Managed teams of 5-30 sales people | Extensive experience from the construction and credit industry, Jason Kannady Director of fulfillment14 years of experience as a controller in the construction space, responsible for all financial operations including underwriting and credit checks.
Amount Raised : $526,396
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Security Description

A convertible security is a security that can be converted into another security, typically equity in the next round of financing.

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