BlueTarp Financial, the leading provider of enhanced financial services to the building materials and supply industry announced today it has secured $18.5 million in venture capital financing.
Portland, ME - January 29, 2007 - "We've experienced significant growth in our business over the past several years and made tremendous strides in providing world-class financial products to the building materials and supply industry," said Bond Isaacson, chief executive officer of BlueTarp Financial. "We are thrilled to welcome Trinity Ventures to our investor team and look forward to working with all of our investors as we continue our rapid growth."
BlueTarp Financial provides commercial trade credit services to more than 550 building material stores and 12,500 contractors across the United States. Over the past year, the company has signed a partnership agreement to offer a private label credit product with CCA Global Partners, as well as grown the base business significantly by adding over 100 dealer locations in 2006.
"We were impressed with significant traction BlueTarp Financial has achieved in the building materials and supply industry over the past year," said Noel Fenton, general partner, Trinity Ventures. "This traction, along with the strong management team at the company, well positions the company to build on its past successes and achieve significant growth. We are pleased to join Highland Capital Partners, IDG Ventures and Village Ventures in this follow-on round."
BlueTarp Financial handles every aspect of a dealer's trade credit. This includes credit extension, invoicing and collections which frees up time allowing the dealer to focus on growing their business. BlueTarp dealers benefit from increased cash flow, reduced back office work and a healthier bottom line. Additionally, BlueTarp contractors enjoy a valuable rewards program that allows them to earn points with every purchase and view detailed data about their purchases via online reporting.
About BlueTarp Financial, Inc.
BlueTarp Financial, headquartered in Charlotte, North Carolina, and with operations in Portland, Maine, provides commercial trade credit services to more than 550 building material stores and 12,500 contractors across the United States. BlueTarp dealers benefit from increased cash flow, reduced back office work and a healthier bottom line.
For more, see www.bluetarp.com.
BlueTarp Financial, Inc.