Materials Market secures £2m from Fuel Ventures and Active Partners to expand its online platform.
Fuel Ventures led the investment round, which also saw participation from Active Partners and angel investors.
Share allotment filed at Companies House
Materials Market operates an online marketplace that connects builders and DIY customers with a large network of heavy-side building material suppliers.
Materials Market has secured £2m in funding to expand its team and develop its online construction materials marketplace. Fuel Ventures led the round, with participation from Active Partners and several angel investors. The fresh capital will be directed towards recruitment across sales, marketing, product, and operations as the business scales its operations.
Founded in 2020, the platform aims to modernise the fragmented British building materials sector through real-time pricing and a wide supplier network. The company plans to use the investment to deepen its market presence and enhance its digital platform infrastructure.
From the founder
"The fragmented nature of the construction industry creates a frustrating trading environment for both customers and suppliers alike. Faced with an uncertain economic climate and ambitious government targets, maximising efficiency in the procurement process has never been more important. We are thrilled to be working with Active Partners, who bring a wealth of consumer-side experience, as well as Tom and James, whose expertise will play a pivotal role as we take this exciting next step in our journey."
Samuel Hunt
Co-Founder and CEO at Materials Market
Investor perspective
"The building materials market is highly fragmented and inefficient and has yet to experience the level of disruption seen in other industries through digitisation. Materials Market is changing that with its innovative approach and proprietary technology, seamlessly connecting buyers and suppliers through its online marketplace. Their impressive growth to date demonstrates clear product-market fit and Samuel and Andrew’s deep understanding of their customers. We’re excited to support them as they scale their offering nationwide and beyond."
Tom Profumo
Partner, Active Partners
Use of funds
- 01Grow the team
- 02Invest in sales and marketing
- 03Continue product development
- 04Scale operations
Investors
Categories
About the company
Materials Market
Materials Market runs a digital marketplace for heavy-side building materials.