# BlueTape

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/bluetape

- Industry: Financial Services
- Headquarters: San Francisco, US
- Website: www.bluetape.com
- Total disclosed funding: $5M
- Latest round: Seed (Aug 19, 2022)
- Investors on record: 2

## About

Founded in 2020 by Yaser Masoudnia (CEO), and Patrick Gannon (COO), and based in California, US, BlueTape Inc. operates a payment and financing platform that helps contractors, subcontractors, suppliers, manufacturers, architects, engineers, dealers, and builders to pay for their building materials. In August 2022, BlueTape Inc. raised USD 50 million in venture debt funding led by new investor Arcadia Funds. Some of the firm’s customers include Pinnacle Group, Pells, L5drywall, Prince Street Partners, etc. 

BlueTape provides contractors, subcontractors, and builders with building materials financing for 60, 90, or 120 days, allowing businesses to automate their accounts receivables and provide flexible financing options to their customers. Furthermore, BlueTape Credit provides a platform that assists businesses in managing payments and simplifies the payment collection process.

The company intends to use the August 2022 funding to increase lending, expand its team, and develop new products for construction businesses.

## Funding rounds

- Seed, Aug 19, 2022, $5M — Chicago Ventures, Plug and Play

## Investors

- Chicago Ventures (https://capitalatlas.ai/funds/chicago-ventures) — Seed
- Plug and Play (https://capitalatlas.ai/funds/plug-and-play) — Seed