ScrapAd closes a new 5 million round of funding to further boost its activity
ScrapAd has closed a new €5 million round of financing that will allow it to continue with its ambitious growth plan.
Our online platform for buying and selling recyclable materials continues to grow and consolidate its position in the sector, with 2,700 registered companies in almost 100 countries.
The €5,000,000 round was co-led by Indi Partners, an investment vehicle that invests in technology-based companies in the industrial sector, and Bergé y Cía, an investment holding company currently present in the logistics and mobility sectors that is committed to creating value through entrepreneurship, thus achieving great economic strength to continue facing the ambitious growth and expansion plan that ScrapAd plans for the coming years.
The funds received will be used primarily to finance the company’s growth in three areas:
- International expansion in the main target countries, according to supply and demand criteria and the type of materials they import and export, in order to strengthen the advantageous position of first mover.
- The development of an integrated technological product, in such a way that the client works its entire process in a ScrapAd environment that facilitates daily operations with its usual information systems, through an immersive experience with a SaaS, marketplace and native app.
- The incorporation of specialists to achieve the scalability of the company, by automating repetitive processes and adding value to specific functions in their areas of expertise.
ScrapAd broke into the recycling sector in 2020 and completely revolutionised the buying and selling of recyclable materials. Three years later, it is strengthening its funding to be able to continue to offer companies in the recycling sector a single space where they can trade recyclable materials, without having to worry about anything else.
About ScrapAd
This marketplace was created to transform the recycling industry through a disruptive business model, in a traditional and not very digitised sector, with two main objectives:
- To make it easier for companies to find the best destination for their waste in just a few clicks, in a cost-effective and secure way.
- To minimise the waste that ends up in landfill, promoting the circular economy and respect for the environment.
ScrapAd is based on a smart platform that offers its users a fully verified professional environment where they can manage advertisements for buying and selling waste.
In addition, we have revamped our innovative platform to improve the user experience for its customers. New functionalities such as transaction management and mobile trading have been implemented.