Construction technology entrepreneurs secure investment

NTUK Technology Ltd and its subsidiary, The Build Chain, are poised to grow after securing investment from Finance Yorkshire.

The Doncaster-based company has developed a digital platform that connects contractors nationally with suppliers locally, improving and creating efficiencies across the supply chain.

The Build Chain platform is the brainchild of Neil Sheldon and Matthew McClune, marketing and digital experts who have specific experience connecting contractors and merchants.

Finance Yorkshire has invested £500,000 in the company from its Seedcorn fund, which will be used to grow The Build Chain’s profile amongst its target sectors.

The Build Chain forecasts strong growth in the next two years after enjoying widespread adoption of its platform by contractors of various sizes, with turnover of up to £250m, alongside national suppliers.

McClune, Chief Commercial Officer and Co-Founder, said: “The construction industry is worth hundreds of billions each year, but procurement processes are outdated and riddled with inefficiencies that contribute to lost value.

“The platform helps contractors with important industry goals, such as social value and environmental sustainability, while ensuring procurement compliance.

“Demand for a rig like ours has never been higher as the industry sees stock availability at an all time low and price inflation at an all time high.”

Sheldon, Chief Commercial Officer and Co-Founder, added, “We created a flat fee subscription platform that does not interrupt the transaction between contractor and vendor to ensure adoption at all levels of the industry.

“Providers benefit from filtered inquiries directed to their business without worrying about commission rates on each sale, along with data-driven insights that enable providers to improve efficiency when serving customers.”

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Alex McWhirter, CEO of Finance Yorkshire, said: “Our Seedcorn fund supports innovative and ambitious SMEs like The Build Chain to grow and create jobs in the Yorkshire and Humber region.

“The ability to connect people and businesses through technology is advancing all the time and we are pleased to support The Build Chain on their growth journey.”

Finance The Yorkshire Seedcorn Fund is managed by Anticus Partners.

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