METYCLE, a Cologne-based metal trading platform, secures €4.7 million. Project A led this round, with participation from Partech, current investors Market One Capital and Dutch Founders Fund (DFF), as well as well-known industry angel investors, involving Gisbert Rühl (former CEO of Klöckner & Co.), Anne-Marie Großmann (GMH Group), Christoph Cordes (Flink), and Philipp Andernach (Antunnacum).
More over 3.6 billion tonnes of CO2 are released yearly worldwide during the production of primary metals, accounting for over 10% of all direct CO2 emissions.
Without sacrificing quality, CO2 emissions can be cut by more than 60% by employing scrap metals that can be recycled indefinitely. On the other hand, the secondary metals trade is a globally, highly fragmented, opaque, and distrusted industry.
Rafael Suchan, Co-Founder of METYCLE said, “Metal recycles forever without quality loss. It’s a key reusable commodity for infrastructure and investment goods production and the key material for the green energy transition towards a carbon neutral world,”.
Sebastian Brenner, METYCLE’s second Co-Founder said, “We want to make sure that the highest amount of metals possible are recycled properly, safely, and beneficial to the environment. With METYCLE we aim to be the world’s most efficient and trusted marketplace for secondary metals,”.
When selling metals, METYCLE is a reliable partner with a basis in Germany that manages all of the headaches associated with negotiation, payment tracking, and delivery. METYCLE now sources its materials from all across Europe, but it is also starting to source from North America.
Philipp Werner, Partner at Project A said, “We are incredibly excited to support the team behind METYCLE, as they possess the industry experience that we deem crucial for unlocking this immense opportunity within the metal recycling industry. The team’s remarkable progress within a short period serves as a true testament to their exceptional execution capabilities,”.
Max Schertel, Co-Founder at finmid said, “We’re thrilled to be partnering with METYCLE to help make transactions simpler and more secure for their customers, helping to facilitate more efficient trading of secondary metals, By combining finmid technology with METYCLE ambition to digitize the metal recycling industry, together we are improving transparency and trust in trade within the industry globally”.
METYCLE is constructing the infrastructure needed to quicken the secondary metals’ circular flow throughout the world. The $610 billion globally scrap metal trade industry is being brought into the twenty-first century by METYCLE.
We are developing an online marketplace to link scrap metal buyers and sellers globally. This would facilitate the smooth movement of recycled materials, speeding up the secondary metals circular flow on a global scale.