Eleven million US dollars for Metalshub

The Düsseldorf-based start-up offers transparent supply chains and a digital trading platform for metal and raw materials. In its current financing round, it is now raising eleven million US dollars.

A platform for trading metal and raw materials: This is what the start-up Metalshub has been offering since 2016. Now the Düsseldorf-based company was able to raise eleven million US dollars in a Series A financing round. Acton Capital leads the round, with existing investors Point Nine and Chromo Invest, as well as several business angels.

The money will be put towards expansion outside Europe, explains founder Sebastian Kreft: "With the fresh capital we want to use this strong momentum to establish Metalshub beyond Europe. We expect to reach our next big milestone of $1 billion in total revenue by the end of 2021."

Metalshub facilitates supply chain visibility through its digital ecosystem. This can save CO2 emissions and costs, the company said. "With our focus on the physical metal and scrap trading sector, we have managed to address the specific needs of our industry," explains co-founder Frank Jackel. Today, Metalshub has over 1,000 customers.