A Lincoln-based startup that offers a mobile app that helps truck drivers get paid faster has received an initial round of investment.
BasicBlock said it secured a $675,000 pre-seed round led by Global Financial Group, one of the largest factoring companies in the United States.
Other participants in the financing round included well-known angel investor Jason Calacanis; Jenny Fielding, managing director of startup accelerator TechStars NYC; and Invest Nebraska.
BasicBlock's app allows trucking companies and freight brokers to streamline the collection of paperwork for invoicing.
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“Our mission is to be able to pay trucking companies quicker and more money,” BasicBlock’s CEO and Co-founder Taylor Monks said in a news release.
The company hopes by next year to actually get into the business of funding the invoices submitted through the app.
Earlier this year, BasicBlock was one of three local companies to receive a $25,000 LaunchLNK grant from the Lincoln Partnership for Economic Development.