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.
Reibus has raised $75M in Series B
funding led by SoftBank Vision Fund 2, bringing Reibus to a
valuation of $750M
"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."
About Reibus
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.
Press Inquiries:
Samantha
Gajdostik
Marketing and Communications
414.308.5836
sgajdostik@reibus.com
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.