PORTLAND – BlueTarp Financial, which provides credit and marketing services for the building supply industry, said on Thursday it raised $15 million in funding that will allow the company to expand its customer base and add employees.
The $15 million came from 13 new and existing investors, who gained an undisclosed equity stake in the company, BlueTarp said. One major new investor includes LongRidge, based in New York.
The funding will allow BlueTarp to expand its customer base, which currently includes more than 2,000 building supply companies. It also plans to hire more employees. The company employs more than 80 people, up from 50 workers last year.
The equity investment was brokered by San Francisco-based FTP Securities LLC.