Outpave Secures $1.2 Million in Seed Funding to Revolutionize Spend Management for Construction and Trades

Outpave, a spend management startup focused on the trade and construction sectors, has successfully raised $1.2 million in a seed round. The investment, led by Fritz-Pak Corporation, aims to support Outpave’s mission to enhance financial operations for small to mid-sized businesses within these industries.

The company's platform offers advanced technological solutions combined with user-friendly design elements to facilitate streamlined bank connections, effective expense tracking, and efficient invoice management. According to David Ojeda, President of Fritz-Pak, Outpave is poised to overcome traditional resistance to technological evolution in the construction sector by providing financial tools specifically designed to meet the unique challenges of these businesses.

The newly acquired funds are earmarked for expanding Outpave's market reach, enhancing sales channels, and further developing its product features to better serve the evolving needs of the trade and construction markets, according to the company. In a press release, Zach Ahlstedt, CEO and Founder of Outpave, commented on the future direction of the company, emphasizing the planned enhancements that aim to simplify and innovate financial management practices for their clients, thus enabling them to excel in competitive environments.