EquipmentShare has announced $20m in funding to bring more efficiency to the buying, selling and lending of construction equipment. About 1,000 companies and contractors use EquipmentShare's marketplace, which lists equipment such as forklifts, mobile generators, and drill rigs. The startup says it has approximately 1,000 companies and contractors currently using the marketplace, and the bulk of them are renters. Rental rates are based on equipment weight, with the start-up taking a cut from every transaction. The company is also working on an online marketplace for building materials that will allow buyers to compare prices across different suppliers. The new product is planned for launch in March.
EquipmentShare has announced $20m in funding to bring more efficiency to the buying, selling and lending of construction equipment. About 1,000 companies and contractors use EquipmentShare's marketplace, which lists equipment such as forklifts, mobile generators, and drill rigs. Rental rates are based on equipment weight, with the start-up taking a cut from every transaction. The company is also working on an online marketplace for building materials that will allow buyers to compare prices across different suppliers. The new product is planned for launch in March.