4.7 million euros for METYCLE

METYCLE, the secondary metals platform, successfully closes a financing round and focuses on a more efficient, transparent global market for recycled metals

METYCLE, a digital platform for trading secondary metals, has successfully closed a €4.7 million seed funding round. The round was led by Project A and included investments from Partech, Market One Capital, Dutch Founders Fund as well as industry angel investors such as Anne-Marie Großmann (GMH Group), Gisbert Rühl (ex-CEO Klöckner & Co.), Christoph Cordes (Flink) and Philipp Andernach (Antunnacum).

Metal can be recycled again and again without any loss of quality. It is an important reusable raw material for the production of infrastructure and capital goods and the most important material for the green energy transition towards a carbon-neutral world

Rafael Suchan, co-founder of METYCLE

The company acts as a digital marketplace that facilitates the trading process for secondary metals. METYCLE connects metal collectors, scrap dealers, recycling companies and smelters to make the global trade of secondary metals more efficient and reliable.

Recycled metals have a 60-95% lower carbon footprint compared to primary metals, making METYCLE an exciting player for sustainability and a carbon-neutral world.

The team behind METYCLE has the industry experience that we believe is crucial to capitalize on this huge opportunity in the metals recycling industry.

Philipp Werner, Partner at Project A

A partnership with finmid for trade finance was also announced. The founders Rafael Suchan and Sebastian Brenner, both with many years of experience in the chemical and metal industry, emphasize the importance of metals as reusable raw materials for the production of infrastructure and capital goods as well as for the green energy transition towards a carbon-neutral world.

METYCLE plans to use the funding to accelerate time to market, expand into new regions and develop technological solutions to improve quality control in the secondary metals industry. The company operates in a market worth over 600 billion US dollars and aims to become an efficient marketplace for secondary metals.