Skrap raises £1.2m in seed funding led by Vanneck Investments to scale its construction hire marketplace.
The seed round was led by Vanneck Investments with backing from a group of prominent angel investors and founders.
Skrap operates a construction hire marketplace connecting builders with on-demand skip and equipment rental services via a mobile application. The platform streamlines waste management and resource ordering for small and large contractors alike.
London-based proptech startup Skrap has secured £1.2m in a seed funding round led by Vanneck Investments. The company intends to deploy the capital to accelerate its growth across major UK cities and expand its digital marketplace beyond skip hire into wider construction equipment.
The financing drew participation from a roster of angel investors and entrepreneurs, including Charles Songhurst, Eamon Jubbawy, Anil Stocker, Paul Huntingdon, Adrian Beecroft, Dennis Stevenson, Peter Brodnicki, Jay Radia, and James Hind. Founded in 2017, the firm looks to modernise the traditional construction hire sector through mobile automation.
Skrap has previously tested its service with hundreds of suppliers across London, Manchester, and Birmingham, facilitating over 10,000 deliveries. The fresh capital supports the firm as it targets the wider £20bn construction hire market.
From the founder
"We’re thrilled to have some amazing investors on board and look forward to leaning on their expertise as we broaden the horizons for Skrap. Our team has huge ambitions to scale across the UK and globally. Having laid the foundations in Skip hire, we are fast expanding in all construction hire verticals. Skrap is making its mark in industry by introducing the first mobile app that makes it simple and convenient for construction companies to access resources they need."
Hussain Hilli
Co-founder at Skrap
Use of funds
- 01Expand into international markets
- 02Continue product development
Investors
Vanneck Investments
Charles Songhurst
Eamon Jubbawy
Anil Stocker
Paul Huntingdon
Adrian Beecroft
Dennis Stevenson
Peter Brodnicki
Jay Radia
James Hind