Schüttflix raises $50 million

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

Probably the best-known shareholder of Schüttflix is presenter and influencer Sophia Thomalla. Now, the Gütersloh-based company is announcing that it recently raised $50 million to push for expansion into Poland, the Czech Republic, and Austria in 2022. Leading the round is British venture capitalist Draper Esprit, with existing investors Speedinvest, HV Capital and Strabag, which has held a one percent stake in the startup since December 2020, also participating. In addition, founders Thomas Hagedorn and Christian Hülsewig themselves are also participating in the Series A financing round.

"After the successful expansion in the German market this year, it is now the strategically right 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 book in the construction industry," says Hülsewig of the financing round. The three new markets his startup is targeting are "similarly structured," according to a statement. Currently, the team is "laying the technical, organizational and personnel foundations" to launch the expansion.

Founded in 2018, the start-up uses a platform to connect construction managers and producers of bulk materials such as crushed stone and gravel. One posts a quote, the other orders 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 up a traditionally analogue market and creates real added value for its customers with its digital solution," says the investor. Schüttflix also wants to use the money it has raised to drive forward the digitalization of all aspects of supply and disposal at construction sites.