Home » The Build Chain secures £500k from Finance Yorkshire

The Build Chain secures £500k from Finance Yorkshire

by Sion Geschwindt
The Build Chain secures £500k from Finance Yorkshire

Yorkshire-based startup The Build Chain has secured £500,000 in investment from Finance Yorkshire’s seedcorn fund to grow its profile among target sectors.

The fledging company, a subsidiary of NTUK Technology Ltd, has developed a digital platform which connects contractors nationally to suppliers locally to improve efficiencies across the supply chain.

The Build Chain platform is the brainchild of Neil Sheldon and Matthew McClune, digital and marketing experts who have specific experience in connecting contractors and merchants.

The Build Chain is forecasting strong growth over the next two years after enjoying widespread adoption of its platform from various sized contractors, with turnovers of up to £250million, alongside national suppliers.

Matthew McClune, chief commercial officer and co-founder of The Build Chain, said: “The construction industry is worth hundreds of billions each year, but the procurement processes are out of date and full of inefficiencies that contribute to lost value.

“The platform assists contractors with important industry objectives such as social value and environmental sustainability while ensuring compliance in procurement.

“The demand for a platform such as ours has never been greater, as the industry sees stock availability at an all-time low and price inflation at an all-time high.”

Alex McWhirter, chief executive of Finance Yorkshire, added: “Our Seedcorn fund supports innovative and ambitious SMEs like The Build Chain to grow and create jobs across the Yorkshire and Humber region.

“The ability to connect people and businesses through technology is advancing all the time and we are pleased to support The Build Chain in its growth journey.”

Finance Yorkshire’s Seedcorn fund, managed by Anticus Partners, is part of its newly launched fund which is expected to provide £50m to SMEs over the next five years. Investment is also available from its Growth Fund as well as through large and small business loans.

Image: Ian Brown, Finance Yorkshire; Neil Sheldon, The Build Chain; Alex McWhirter, Finance Yorkshire; and Matthew McClune, The Build Chain

Read next: UK startup Disperse raises £15m for AI-powered construction platform  

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