Schüttflix raises 50 million US dollars

The Schuttgüter start-up brings digitalization to the construction industry. The Gütersloh-based company has now raised 50 million US dollars and is venturing beyond Germany's borders: it plans to expand into three countries in 2022.

The best-known shareholder of Schüttflix is presenter and influencer Sophia Thomalla. The Gütersloh-based company has now announced that it has recently raised USD 50 million to drive forward its expansion into Poland, the Czech Republic and Austria in 2022. The round is led by British venture capitalist Draper Esprit and also includes existing investors Speedinvest, HV Capital and Strabag, which has held a one percent stake in the start-up since December 2020. Founders Thomas Hagedorn and Christian Hülsewig are also participating in the Series A financing round themselves.

"Following our successful expansion in the German market this year, now is the right strategic moment for us to grow further in Europe. Government investment programs, such as the Green Deal and the Post-Corona Recovery Fund, will ensure a sustained strong order situation in the construction industry," says Hülsewig about the financing round. The three new markets that his start-up is targeting are "similarly structured", according to a press release. The team is currently "laying the technical, organizational and personnel foundations" to start the expansion.

Founded in 2018, the start-up connects construction managers and producers of bulk materials such as crushed stone and gravel via a platform. Some post an offer, others order the products directly to the construction site. Invoicing and delivery are also digitalized - still an exception in the construction industry. Christoph Hornung from Draper Esprit agrees: "The start-up has broken open a traditionally analog market and is creating real added value for its customers with its digital solution," says the investor. Schüttflix also wants to use the money raised to drive forward the digitalization of supply and disposal on construction sites.