BlueTape is a payment and financing platform that automates accounts receivable and offers trade credit solutions for the construction industry, enabling businesses to provide extended payment terms to their customers. By streamlining cash flow management, BlueTape reduces Days Sales Outstanding (DSO) to just one day, minimizing the risk of non-payment and enhancing overall financial efficiency.
Funding
$55.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
AFCVPMPAFounders
Product
Problem
Construction businesses often face challenges with accounts receivable, including delayed payments, manual invoicing processes, and the risk of non-payment, which can strain cash flow and hinder growth. Offering trade credit to customers can increase sales but also increases financial risk and administrative burden.
Solution
BlueTape provides a payment and financing platform designed to automate accounts receivable and mitigate risks associated with offering trade credit in the construction industry. The platform enables businesses to offer extended payment terms (net 30, 60, or 90) to their customers while still getting paid upfront, effectively reducing Days Sales Outstanding (DSO) to as little as one day. BlueTape's solution includes a customer payment portal, invoice automation, and credit management tools, streamlining the payment process and reducing the administrative burden for accounts receivable teams. By automating these processes and assuming the risk of non-payment, BlueTape helps construction businesses improve cash flow, increase sales, and enhance customer experience.
Target Audience
BlueTape primarily serves LBM suppliers, manufacturers, dealers, general contractors, subcontractors, and government contractors in the construction industry.
Features
- Automated accounts receivable processes, including invoicing and payment reminders
- Customer payment portal for easy online invoice payments
- Trade credit solutions enabling businesses to offer net terms while receiving upfront payment
- Credit management tools for assessing and managing customer credit risk
- Integration with existing accounting and ERP systems
- Factoring and early payment program options
- White-glove onboarding and dedicated customer success team