METYCLE
finmid
Overcoming working capital challenges: METYCLE’s path to rapid growth
METYCLE specialises in collecting and repurposing scrap metal, transforming discarded products into valuable resources. Their mission is simple yet profound: to make a positive impact on the environment by minimising waste and maximising resource efficiency.
Challenge
METYCLE stands out in the metal recycling industry for its innovation and commitment to sustainability, transforming scrap metal into valuable resources. Their mission is to positively impact the environment by minimising waste and maximising resource efficiency.
Despite its innovative approach and noble mission, METYCLE faced significant challenges. As a managed B2B marketplace, METYCLE deals with large order sizes, in most cases reaching six-digit USD ranges, which necessitates substantial working capital to finance transactions. The international nature of secondary metal trade, with shipping times extending over several weeks, further complicated their cash flow management.
Rafael Suchan, co-founder of METYCLE, reflects on the hurdles they faced: “Our vision to position METYCLE as the most innovative solution for the metal recycling industry and push global circularity was clear, but the financial logistics of handling large international transactions posed a significant challenge. We needed a seamless and robust solution to bridge our working capital gap and support our growth.”
Solution
METYCLE partnered with finmid as they were equipped to meet METYCLE’s needs with their comprehensive financing services. Through this collaboration, METYCLE gained the necessary working capital to finance its international B2B transactions. The solution came in the form of a user-friendly Payments Dashboard, designed to streamline financial processes and cover METYCLE’s extensive business geographies in Europe and Asia.
Sebastian Brenner, co-founder of METYCLE, emphasises the impact of this partnership: “The flexibility and reach of finmid’s financing services have been instrumental in overcoming our cash flow challenges and putting us on a significant growth trajectory. Their solution has allowed us to focus on expanding our global market presence and enhancing our service offerings.”
Results
With finmid’s financing solution in place, METYCLE overcame its growth constraints. This strategic move not only addressed their working capital and liquidity challenges but also attracted positive attention from investors. The ability to manage finances effectively before their seed round was a crucial factor in securing further investment.
Philipp Werner, Partner at Project A and lead VC investor in METYCLE: “We were very pleased that METYCLE solved their working capital challenge early on thanks to finmid - their partnership has significantly strengthened METYCLE's ability to move quickly. We are excited to be part of METYCLE’s journey and witness their continued growth and impact in the industry.”
Outlook
Looking ahead, METYCLE is expanding its international presence and continuing to foster sustainable practices in the metal recycling industry. The company plans to introduce additional payment options to further streamline transactions and support global business operations.
METYCLE envisions a future where secondary metals play a crucial role in resource efficiency and sustainability. By continuing to innovate and collaborate with partners like finmid, METYCLE is well-positioned to lead the transformation of the metal recycling industry on a global scale.
About METYCLE
METYCLE specialises in collecting and repurposing scrap metal, transforming discarded products into valuable resources. Their mission is simple yet profound: to make a positive impact on the environment by minimising waste and maximising resource efficiency. Through their innovative approach, METYCLE strives to redefine the traditional concept of metal recycling. By harnessing the power of creativity, data science and technology, they unlock the potential of discarded materials, giving secondary metals new life and purpose. To learn more about METYCLE, visit metycle.com.
About finmid
finmid is the financial infrastructure provider to today's most popular platforms. With just a few lines of code, finmid enables any B2B software platform to offer financing to their customers at scale, driving revenue and customer retention. The finmid API allows B2B software platforms to build flexible financing solutions with best-in-class user experience. Founded in 2021, finmid is the emerging leader in European financial services infrastructure, backed by leading tech investors. The company is headquartered in Berlin, Germany. To learn more about finmid, visit finmid.com.
You might also like
Customer stories
Bridging the financing gap: VonWood's role in revolutionising timber trade
Max Schertel
30.05.2024