Beringea Leads a USD 17.5M Series A Fundraising Effort for the Construction Equipment Sector

Construction Tech Review | Saturday, October 15, 2022

The U.K. firm YardLink raised its seed round, enabling construction companies to rent essential tools more quickly than they could before.

FREMONT, CA: The UK startup Yardlink raised its Seed round back in 2020. Yardlink enables construction companies to access essential equipment faster than traditional equipment rental companies. It essentially included bringing a marketplace-first, digital-first strategy to an industry that was previously constrained by a slow, centralised hire market.

After two years, Yardlink has received a USD 17.5 million Series A fundraising round from Beringea, Amplifier, and current backers Speedinvest and FJ Labs.

Since the company began as a rental business, it has developed into a full-service platform for supply chain management, giving contractors access to providers of tools, equipment, bulk supplies, gasoline, waste management, and other services and goods. The platform allows for the sourcing, booking, and payment of all.

Construction is one of the least digitised industries, with over 95 per cent of supply chain transactions still being handled through the phone, email, and pen and paper, stated Neeral Shah, CEO of YardLink. On a single digital platform, YardLink links customers in the construction industry with their supply chain. 

YardLink has the potential to become the go-to marketplace for building goods, said Maria Wagner, Partner at Beringea. The business also informed via email that the proximity of their supply chain is reducing the carbon footprint of construction projects.

After years of providing trade financing for construction procurement, Shah saw a market vacuum and created YardLink in 2018. It presently claims to have more than 3,000 clients.

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