A fundraise led by Vanneck Investments along with participation from a host of entrepreneurs and investors has raised £1.2 million of seed funding for a start-up company specialising in hire equipment for the construction market.
London based Skrap, the construction hire marketplace was founded in 2017 and is expanding on its reputation as ‘skip hire disruptor’. Plans are to now introduce other areas of the industry into their digital innovation including things such as concrete, portaloos and machinery – all accessible via a mobile app.
Co-founder of Skrap Hussain Hilli said : “We’re thrilled to have some amazing investors on board and look forward to leaning on their expertise as we broaden the horizons for Skrap.
“Our team has huge ambitions to scale across the UK and globally.
“Having laid the foundations in skip hire, we are fast expanding in all construction hire verticals.”
Skrap’s vision is to create a platform centred around the needs of SME builders who can order construction hire via a platform and the click of a button. The application is currently being adapted by Skrap’s team of 25 people.
There has already been trials in London, Manchester and Birmingham with hundreds of suppliers and have so far completed over 10,000 deliveries to date to thousands of construction companies of various sizes. The aim to take away the stress and hassle of ordering construction hire equipment to what is already what a stressful experience.
Skrap hopes to automate how the construction hire chain operates across major cities globally in the coming years, with Hussain saying “Skrap is well positioned to bring innovative solutions to help transform the industry and make it one beacon of industry once again”.
The founders came across the idea when running a construction business where the logistics were unorganised and fragmented, and everything was done manually. They are hoping to revolutionise the way hiring is done across the construction industry.