Schuttflix plans to use the funds to expand into Czech, Austrian, and Polish markets. Here are the top-line bullets you need to know.
Schuttflix, a B2B marketplace for construction supplies, has raised $50M in a Series A. The round drew participation from Draper Esprit, Speedinvest, and HV Capital, among others.
How’s the company performing?
- Germany-based Schuttflix supplies sand, gravel, and grit on demand for the construction bulk-materials industry.
- The company has delivered over 100K shipments and 2.5M tons of construction-bulk materials across Germany since its founding.
- Schuttflix has reportedly witnessed 400% business growth since January 2021.
- The company’s platform is used by approximately 1,500 manufacturers and 2,500 freight agents.
Why does the market matter?
- The global B2B e-commerce market is projected to grow at a CAGR of 18.7% to reach a value of $25.65T by 2028, according to Grand View Research.
- Several vendors have adopted digital transformation initiatives to ensure smooth operations, which has led to a growing demand for technologies to help manage online shopping operations, payments processing, and more.
- The onset of the Covid-19 pandemic and subsequent rise in the volume of online purchases have also contributed to market growth.