RSR has advised the Berlin-based industrial materials marketplace Vanilla Steel on its USD 4 million financing round led by June Fund with participation of existing investors such as Seedcamp and Mustard Seed Maze.
Launched in 2020, Vanilla Steel is building a secondary market for excess steel, material that is in overstock and has no direct customer attached to it. Vanilla Steel facilitates transactions, enables smart matchmaking, removes manual and tedious tasks with automation and saves time by reducing the negotiation period. Through weekly online auctions, steel suppliers can find the right buyers in a competitive bidding process. Vanilla Steel is already present in 50 countries with more than 100 steel suppliers who have listed 90,000 tons of steel during its first year of operation.
The RSR team members have been advising Vanilla Steel since its foundation and are looking forward to further strengthening the relationship in the coming years.
Team RSR: Dr. Matthias Rüping, Emanuel Spitzy