ATLANTA, Nov. 30, 2021 /PRNewswire/ -- Reibus, the independent metals marketplace, announced it raised $75M in Series B funding led by SoftBank Vision Fund 2. This latest funding round comes as Reibus enjoys its third year, and its strongest year yet, with revenue up more than 7x over 2020.
"Industrial materials such as steel and aluminium is a $2tn market globally but remains highly fragmented, which can create supply chain disruptions and price volatility," said Andrew Straub, Investment Director at SoftBank Investor Advisers. "We believe that Reibus is helping to solve this challenge with its independent, SaaS-enabled marketplace, which provides greater transparency and flexibility to buyers and sellers alike. We are delighted to be partnering with John Armstrong and the team to support its goal to revolutionize supply chain efficiency."
This investment brings Reibus to total funding in excess of $100 million and a valuation of $750 million. Along with SoftBank Vision Fund 2, Reibus enjoys continued investment from Canaan Partners, Nosara Capital, Battery Ventures, Bowery Capital, Initialized Capital, and FJ Labs. The fundraise will further fuel the company's rapid growth, including:
- Expanding the marketplace and mobile app tools and services.
- Accelerating new financial and logistical products.
- Expanding European business with new dedicated team and resources.
"We're excited to add SoftBank Investment Advisers to our team of world-class investors," said John Armstrong, Founder and CEO of Reibus. "Reibus offers great solutions to longstanding problems, however it is our team that is the real secret to our success. We hire people who live our culture every day. We give them the freedom and authority to succeed, creating a shared vision and a great place to work."
Reibus was founded in 2018 as the only independent and anonymous, SaaS-enabled marketplace, utilizing technology to solve ingrained supply chain problems in the industrial material market.
Reibus uses its advanced technology and deep industry knowledge to revolutionize supply chain efficiency by shortening lead-times, reducing inventory, and streamlining finance and freight services. For more Information, please visit Reibus at www.Reibus.com.
Marketing and Communications
To read more about Reibus, please see the June 2021 article in Forbes Magazine: https://tinyurl.com/422xmd54.
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SOURCE Reibus International, Inc.