Materials Market has secured £2 million in funding to enhance its position as a leading online marketplace for building materials in the fragmented UK market.

Information on the Target

Materials Market is an innovative online marketplace dedicated to heavy side building materials, having successfully raised £2 million in a recent funding round. This round was led by existing investor Fuel Ventures, alongside new investors Active Partners, which has a portfolio that includes notable brands like Soho House and Honest Burgers, as well as a group of seasoned angel investors. Additionally, the company has expanded its board by welcoming two experienced directors. James Mackenzie, who previously served as Managing Director of Travis Perkins and Toolstation, brings a wealth of knowledge in the digital building materials sector. Thomas Studd, formerly a partner at Vitruvian, has extensive experience with two-sided marketplaces.

Founded by experienced construction buyers Samuel Hunt and Andrew Haehn, who recognized firsthand the challenges within the sector, Materials Market aims to streamline the buying and selling process for building materials. Utilizing proprietary marketplace technology, it connects a vast network of suppliers to customers, providing them access to competitive pricing, prompt delivery, and superior service.

Industry Overview in the UK

The UK building materials industry is valued at approximately £40 billion and is characterized by a high degree of fragmentation, with numerous suppliers catering to localized areas. This fragmentation l