Buildiro aims to raise the amount of £300k via the online crowdfunding platform

Published: 29.03.2022 Related countries:  United Kingdom United Kingdom

The Czech-British start-up provides service to professionals of construction work as an online market platform for building materials. Now the ambitious firm is targeting to obtain financial means through the equity crowdfunding platform Seedrs.

From the fundraising, the company hopes to take another significant step forward, allowing it to scale and grow further. Czech SFG Holding contributed £175k towards the target amount. The startup hopes the investment will help with product scalability and reach a break-even point. "We estimate that we will reach the mentioned point in the first quarter of 2022, thanks to the investment being made we can retain our costs on the same level while increasing a higher number of visits to the site," confirms the founder of Buildiro Polach.

The company plans to introduce a new business model that will allow construction firms to search for material similarly, to airline tickets on online platforms. "The customer will be redirected to the e-shop or supplier's site, where the purchase will be facilitated directly at the partner’s online web page. This is a change from the original version where the customer bought everything on the Buildiro site, however, the business model was unsustainable due to its cost complexity," says Polach.

Source: CIA News