Hubware Corporation, an online marketplace for builders, hardware stores, and construction suppliers, has announced securing an investment from B2B e-commerce platform BuildMart PH Technologies Inc.
Financial details of the investment were not disclosed but Hubware and BuildMart PH said the fresh funding will enable Hubware to build a holistic digital construction ecosystem in the Philippines through BuildHub.ph.
The online marketplace aims to streamline and enhance the visibility of construction sellers, especially hardware stores and brands, thereby boosting their online presence and market reach, according to the announcement.
The marketplace will feature various construction products provided by partner brands such as Republic Cement, TKL Steel, Union, Saint Gobain, Vicem, and more than 150 partner hardware stores.
Additionally, the online marketplace, which will benefit from BuildMart’s 18 fulfillment centers nationwide, will offer a dedicated financing facility, BuildCredit, with competitive interest rates between 1% and 3% for terms of up to 60 days.
Andre Bernardo, Co-Chief Executive Officer of BuildHub.ph, emphasized the importance of industry experience and strategic partnerships in innovating the construction sector.
“With a combined 67 years in construction, our team adeptly identifies industry pain points, devises effective solutions, and fosters sustainable partnerships with hardware sellers, construction brands, and contractors across the Philippines,” Bernardo said.
BuildMart PH, led by Founder and CEO Richard Lim, is a B2B e-commerce platform connecting manufacturers to hardware stores. Specializing in the wholesale trade of construction materials, it focuses on logistics, credit, and e-commerce.
On the other hand, Hubware, founded in 2018 by Jon Baron, is the first online marketplace for builders, hardware stores, and construction suppliers.
The Hubware platform serves as a digital aggregator for 85 registered partners, focusing on the construction and home improvement sector while also addressing inventory management pain points for smaller stores.
The two firms announced in January a partnership that seeks to advance digitization in the construction industry and solve pain points construction industry players encounter when procuring supplies online.