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Materials Market attracts £1.5M funding from Fuel Ventures to scaleup its digital solution

Materials Market
Image credits: Materials Market

Materials Market is a marketplace platform headquartered in London connecting buyers and sellers of building materials. Its creative solution to ease supply chain issues has sparked the interest of Fuel Ventures, a leading early/growth stage seed EIS Fund based in London that has invested £1.5 million in September 2021.

Scaleup plans

The investment lets Materials Market support more of the UK’s building materials supply chain to refine and evolve their offering post-pandemic, creating a win-win situation for both buyers and sellers. It will also change the way the market works and looks forward to continuing to scale its digital solution and transform how products are traded with new initiatives over the next 12 months and beyond.

Samuel Hunt, Co-Founder & CEO at Materials Market, said: “The sector has been slower than others to move to a digital-first approach and so when we mapped out what Materials Market should represent to both suppliers and customers, it was clear we needed to deliver value for both parties. From personal experience as buyers in the construction sector, we know all too well the daily struggle of contacting supplier after supplier, looking for the best price and delivery time for materials, and we wanted to break that chain with a transparent online platform. The investment from Fuel Ventures is a vindication of our solution and its future potential to deliver huge value for both sides of the marketplace.”

Shiv Patel, Investment Manager at Fuel Ventures, said: “We were really impressed with the team’s knowledge of the industry and their impressive solution to the challenges faced by that particular market. They have created a platform that gives buyers the best prices, due to its large network of suppliers, and fast deliveries – which is exactly what the market needs. We feel it’s our responsibility to invest in the future of UK tech and by supporting forward-thinking entrepreneurs like Samuel and Andrew, we can help them to change the way building materials are bought and sold in the UK – and pass on the benefits to the end-users.”

Assures complete transparency

Materials Market was founded in November 2020 by Samuel Hunt and Andrew Haehn. Post the launch of the online marketplace in November 2020, Materials Market is turning heads with its quick and easy service, cutting out the usual ‘middle men’ by connecting buyers and sellers directly in one simple online marketplace.

The site showcases a huge range of products suitable for both the commercial and DIY market, from insulation materials to timber, blocks, and plasterboard on which customers can save on average 20 percent compared to brick-and-mortar stores due to its innovative structure.

With low prices on big name brands alongside quick delivery times, Materials Market’s reliable service offers complete transparency over supply chain and transactions, enabling users to connect directly with a network of suppliers for the best deals and lead times, every time.