The market for £ 40 billion in Great Britain is strongly fragmented, whereby thousands of suppliers use localized areas. Limited digital introduction and opaque pricing make the purchase process frustrating. Over 70% of the builders of the builders still rely on manual processes for citation and order management, which leads to inefficiencies and delayed deliveries. The result? Billions are lost annually through inefficiencies, delayed projects and poorly managed inventories.
The material market, an innovative online market for heavy building materials, is changing this industry. With its proprietary market technology and the extensive supplier network, it offers competitive prices, fast delivery and excellent service for DIY and commercial customers. The real-time bid system of the platform enables suppliers to compete with average customer savings of up to 20% compared to conventional procurement channels.
Today the company has collected a round of financing of £ 2 million, which was led by its existing supporters Fuel Ventures, with new investors participating in active partners and experienced Angel investors. The financing will help recruit first-class talents for supplier and sales teams, marketing, product and operation, which expands the market market and develops its market model and develops innovative opportunities to combine customers and suppliers.
Creating a perfect online market for buying and selling building materials
The material market was founded in October 2020 by Professional Construction buyers Samuel Hunt and Andrew Haehn, who had first -hand experiences with these problems with these problems, and aims to create an ideal online marketplace for building materials.
The co -founder and CEO Samuel Hunt said: “The fragmented nature of the construction industry creates a frustrating trade environment equally. In view of an uncertain economic climate and the ambitious government goals, which were never more important to the efficiency of the procurement process. We are enthusiastic about working with active partners. Step on our journey.”
Since 2020, the material market has grown from a startup in a guest room to the leading market for the British market. With over 750 supplier branches, more than any other British building material supplier, both online and offline, the platform now serves over 2,000 customers every month, from DIY enthusiasts who strive for better offers for construction workers, the large commercial projects.
Use of a large network of suppliers and deliver low prices and fast delivery times
While competitors such as the CMO Group and Lobuild Direct are progressing in digital procurement, the supplier network of the material market is 2.3 times larger than the closest online rival and offers a broader selection and higher price transparency. The company's asset light model enables rapid scaling, while investing in logistics partnerships aim to meet the reliability of traditional dealers.
Due to the proprietary technology and its extensive supplier network, the material market delivers competitive prices, fast delivery and extraordinary service for DIY and trading customers. With the platform, suppliers can no longer offer customers better prices than established retailers, but enables suppliers to access an online market without receiving the costs of investing in digital infrastructure.
Trustpilot examinations indicate high satisfaction with the pricing (4.7/5 stars), although some users report occasional inconsistencies of delivery – a challenge that is inherent when coordinating a decentralized logistics network. The material market deals with new logistics partnerships and the integration of real-time delivery tracking.
James McKensie, non-managing director of the Material Market, commented: “The building material sector is one of the last important industries that undergo a real digital transformation. What the material market Tut-help of technology in order to simplify a highly fragmented supply chain-exactly what the industry needs. Your progress speaks volumes.
Tom PROFUMO, partner at Active Partners, added: “The market for building materials is very fragmented and inefficient and has not yet experienced the disorder in other industries through digitization. The material market changes with its innovative approach and proprietary technology, which the buyers and the providers of buyers and suppliers who are almost nation and beyond.”