Schüttflix extends its funding to €14 million backed by HV Holtzbrinck Ventures and Speedinvest

Schüttflix, a Gütersloh, Germany-based marketplace operator for construction materials, announced an extension of its seed investment round to a total of €14 million ($16M).

The money was provided by new and existing investors based in Germany, including HV Holtzbrinck Ventures and Speedinvest. The announcement comes 3 months after Schüttflix announced raising €8 million, money included in the total 14.

Schüttflix, founded in 2018 by CEO Christian Hülsewig and Thomas Hagedorn, developed a marketplace for construction materials, a bulk goods market estimated at 50 billion euros in Germany alone.

The company claims to have a market leading position in Germany, with more than 1,500 suppliers and forwarders active on the partner network and with an average monthly sales growth of just under 40 percent.