GD1 has invested in Buddy, an innovative platform transforming the scrap metal trading industry by digitizing operations and enhancing market efficiency.

Information on the Target

We are excited to unveil our investment in Buddy, an innovative venture set to revolutionize the obsolete practices within the scrap metal trading industry by modernizing its processes and approach. Buddy aims to create a digital marketplace that enhances the way businesses engage in metal recycling, moving away from antiquated methods like WhatsApp messages and spreadsheets to a comprehensive online platform.

Buddy addresses the persistent inefficiencies within the global metal recycling industry, which is valued at hundreds of billions of dollars. The platform connects a fragmented market of scrap metal yards with smelters, traders, and brokers, creating an ecosystem that promotes transparent and efficient transactions. With features such as seamless onboarding, extensive vetting, automated contract generation, and bid comparison, Buddy stands to reshape how companies conduct metal trades.

Industry Overview in the Target’s Specific Country

The global metal recycling market is projected to reach a value of $384 billion by 2030. Despite this robust growth potential, the industry has remained bogged down by