Germany-based Metalshub raises €3 million Series Seed to digitise commodity trading

Düsseldorf, 25th of September 2018 – Metalshub (www.metals-hub.com), the digital platform for buyers and sellers of metals, closed a Series Seed funding round of €3 million. The round was led by Brazilian alternative asset manager Chromo Invest and Berlin-based VC Point Nine Capital with existing business angels participating. The two founders Dr. Frank Jackel and Dr. Sebastian Kreft continue to hold the majority in the company. Metalshub operates in a market ready for digitalization. Commodity trading is a large global industry which still largely relies on manual processes leading to significant inefficiencies. Since December 2017 Metalshub provides a digital marketplace, where ferroalloys and metals can be physically bought and sold in an efficient manner. It has successfully created a trusted environment for products such as ferrochrome, ferromolybdenum and ferrosilicon which are used in the iron and steel industry. Just 8 months after its market launch, more than 200 companies have already registered including key industry participants such as Outokumpu, Traxys Europe, Hempel Intermetaux SA, AngloAmerican and Eickhoff. To date, almost 400 negotiations have taken place on the platform resulting in more than €11 million transaction volume concluded over Metalshub. Metalshub co-founder Sebastian Kreft stated: “The capital from the financing round enables… continue reading

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Source: CTRM Center

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