SteelBuy, a groundbreaking online marketplace that has brought a new era of innovation to the metals industry, has reported exceptional progress during its initial nine months of operation. This easy-to-use platform allows businesses to efficiently buy and sell metals while ensuring speed, security, and confidentiality.
Since its launch at the beginning of the year, SteelBuy has facilitated over 300 transactions, resulting in sales revenue exceeding £1 million. Users from across the UK are embracing this technology to streamline their dealings in mild steel, stainless steel, and aluminum. The platform takes care of logistics and invoicing, all within a secure, encrypted environment.
Sellers benefit from the ability to post their materials, complete with product specifications, test certificates, and price per tonne. These listings can be discovered by potential buyers in a matter of seconds, with the entire process taking just one minute to complete. This streamlined approach is estimated to save an impressive 37 hours per week in the average purchasing and sales function.
Crucially, all transactions on SteelBuy are anonymized, ensuring that sensitive data, such as prices and stockholding, remains confidential, and the identities of buyers and sellers are protected.
Terry Sargeant, CEO of SteelBuy, emphasized the platform’s significance, stating, “This is much more than just a place to buy and sell materials. We are not just providing an exciting new channel for customers to buy and sell metals; we are selling a vision of the future of the industry.”
He continued, “SteelBuy enables users to effortlessly digitalize their purchasing and sustainably modernize their business, and this is just the start. There’s so much unexplored potential in materials trading and distribution through the power of digitalization.”
SteelBuy was originally conceived by Cameron Sargeant, who developed the idea while working in sales for thyssenkrupp. The venture subsequently recruited 22 individuals with expertise in software, marketing, sales, and engineering, all sharing a passion for harnessing digitalization’s power in the metals industry.
With ambitions to expand into the European marketplace and a commitment to enhancing user experience based on feedback, Shirley-based SteelBuy is poised to continue its transformative journey. The company is making its public exhibition debut at the UK Metals Expo (13-14 September) in Birmingham, where it will showcase the immense benefits of its online platform.
Terry Sargeant concluded, “We have big plans, and we won’t stop until SteelBuy is the largest global online marketplace for the metals industry. Initial feedback has been really encouraging, not to mention the 300% growth in transactions we’ve seen over the last six months.”