Monday, July 15, 2024

The Build Chain raises £1.7m

Doncaster-based The Build Chain has raised £1.7m through a mixture of angel investors, industry investors, and the Finance Yorkshire fund managed by Anticus Partners.

Following a successful pilot scheme and nationwide rollout in 2023, The Build Chain is forecasting strong growth in 2024 and beyond. It will use this latest round of investment to recruit more experienced individuals into the business in key areas such as technology, operations, sales, and finance.

The solution connects sub-contractors and SME housebuilders in need of materials with independent merchants, improving and creating efficiencies throughout the supply chain.

By enabling sub-contractors and SME housebuilders to submit a single enquiry for required materials which is automatically delivered to suitable merchants, The Build Chain removes the need for buyers to spend time finding suppliers, contacting them manually, and chasing quotes.

In the next year, The Build Chain aims to expand the platform to other audiences in the construction industry. A marketplace area of the platform is being developed to allow Tier 1 and Main Contractors to offer works packages via the platform and sub-contractors to bid for work.

Neil Sheldon, CEO at The Build Chain, said: “We’re delighted to have reached this next stage of growth in our journey to transform the procurement process in the construction industry. This investment will allow us to scale up, achieve extended growth, and begin creating efficiencies throughout the entire built environment supply chain.

“Our successful platform launch last year has driven over £7 million in quotes to independent merchants across the UK alongside saving contractors time and money. We can now begin to expand these successes to other user groups with benefits for the whole industry.”

The Build Chain was assisted throughout the investment process by Freeths Solicitors and Cerelo Advisory.

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