Go Banana secures £500k in seed funding from the Development Bank of Wales and BSKG Holdings
The online building supplies marketplace has raised capital to relocate to Cardiff and fund technological development.
Go Banana operates a digital marketplace for construction supplies that connects trade professionals and consumers with independent merchants.
Go Banana has secured £500k in a seed funding round backed by the Development Bank of Wales and BSKG Holdings. The capital comprises a £250k equity investment from the Development Bank of Wales alongside matched funding from BSKG Holdings.
Founded in London and recently relocating its headquarters to Cardiff, the company provides an online procurement platform listing over 100,000 products from numerous merchants. The new funds will be directed towards technology development, marketing, and expanding its in-house technical team.
The investment aims to support the platform as it scales its operations from its new base at Brunel House.
From the founder
"We are on a mission to consolidate the highly fragmented trade professional supplies market. The sector often relies on personal relationships to procure equipment but we are now offering a primary market aggregator that is proving very popular. Our aim is to not only offer a one-stop shop for trade professionals, but to also support local independent merchants by offering an online selling solution that is needed now more than ever."
Phoebe Bull
Chief Operating Officer at Go Banana
Investor perspective
"Construction is one of the UK’s largest economic sectors, but despite the size of the building materials and home improvement market, estimated to be worth around £70 billion per year, there has been no way to compare and contrast the vast ranges of products on the market until now."
Colin Batten
Development Bank of Wales
Use of funds
- 01Continue product development
- 02Accelerate go-to-market
- 03Invest in sales and marketing
- 04Grow the team
