Glasgow-based Commodities Marketplace Closes €125k Round
Tech start-up BLK Global, that undertakes to help SMEs slash their procurement costs by connecting them directly with raw material producers, successfully raised its pre-seed round shortly after delivering proof of concept and entering the post-revenue stage.
“Today we’re thrilled to announce BLK Global’s partnership with Enry’s Island Srl”
Gabriele Dadò, Founder and CEO of the UK’s first raw materials marketplace.
Enry’s Island Srl (EI) is one of the most prominent Italian accelerators. As part of the deal, EI will be providing an ad hoc acceleration programme for BLK Global, with a dedicated team across four key business units, together with Enry’s Model™ Organisational framework. This means no runway issues, best business practices derived by over 15 years of entrepreneurial experience and the ability to scale up very rapidly thanks to EI’s remote team.
BLK and EI entered into discussions late in November 2020, and the terms of the deal were finalised and agreed just before the year was out.
The raise was made possible by HUI, an ERP platform for start-ups and investors.
Gabriele Dado explained:
“We chose HUI because it guarantees extreme transparency for investors which was key for us. The platform also displays detailed, real-time KPIs that enable them to make informed investment decisions whilst reducing risk. It only took 3 weeks for Enry’s Island to find us on HUI and make an investment decision
“The partnership with Enry’s Island allows us to achieve the right corporate structure, review our medium and long-term strategy so as to position ourselves as true enablers, especially during a very challenging time for business in the UK and Scotland.”
According to the Scottish Annual Business Statistics, Scotland imports over £25 bn of goods yearly. If just 1% of these were to be sourced locally, not only would it add £250 m to the Scottish Economy, supporting over 1,300 jobs; it would also remove 500,000 tons of CO2 from the atmosphere, in a decisive step towards the net-zero objective pursued by the Scottish Government in the fight against climate change.
“Our vision is enabling small and large businesses alike to be seen, connect and compete.”
“Just like e-commerce has revolutionised retail, it will revolutionise the trading of raw materials. It’s not a question of if. It’s a question of when.”
“And together, the answer is now.”