GdeMaterial – Marketplace for Building Materials - raises 10M rubles Series B

15 December 2016

GdeMaterial is an online marketplace for all DIY materials, that specializes in the supply and fast delivery of building and construction materials to contractors and end users. The company has raised 10M rubles in Series B funding. The round was led by the venture capital fund Impulse VC, with participation of other individual investors. 

To date, the company has reached 10 times earnings since its creation in January 2016.  It competes with others in this space, mostly top 10 companies, like Leroy Merlin, OBI, Petrovich, who control less than 30% of the whole building materials and supplies market. However, the market is not yet developed, thus favoring the startup to grow the business on the market that amounts to 400 billion rubles. 

GdeMaterial’s new funding will be put toward continuing to build out the website, testing marketing channels, increasing SKUs, rolling out an aggregator product.