Vergo Launches The First Financial Platform for Interior Designers, Architects, Contractors & Home Builders
NEW YORK, NY – Vergo, a new financial platform dedicated to the home renovation and building industry to streamline project finances, recently launched a program to reimagine how interior designers, architects, contractors and builders manage their project finances. Vergo is backed by some of the world’s leading venture capital firms and angel investors, world-renowned interior designer Kelly Wearstler, and the co-founder of Thumbtack, Sander Daniels.
Vergo CEO and Co-Founder Rich Kane fell upon the idea for the company after building several businesses in the industry, including an interior design studio, furniture store and carpentry business. Reflective on the pain points he experienced running these businesses, Kane realized that it all came back to managing project finances and how many hours were wasted each week reconciling bank statements, invoices, returns and receipts to figure out how much of the client’s budget had been used so he could respond to his client's demanding questions. As his businesses grew and won more projects, the problems intensified with no clear path to scaling without hiring an army of project managers.