Metalbook Secures Debt Financing to Bolster Growth Strategy

Metalbook Co-Founders
Preeti Bali / 11:32 am / April 4, 2024

Metalbook, a prominent player in the full-stack metal supply chain solutions space, has secured debt financing of Rs 25 crore (approximately $3 million) from Northern Arc. This marks the first debt financing round for the Delhi-based company, which previously secured equity funding through venture capitalists.

The company’s board approved the issuance of 250 non-convertible debentures, each with a face value of Rs 10,00,000, to raise the aforementioned capital, as per regulatory filings sourced from the Registrar of Companies (RoC).

Established Platform Caters to Diverse Needs

Founded in 2021, Metalbook has established itself as a comprehensive platform facilitating various aspects of the metal supply chain for businesses, including small and medium enterprises (SMEs). Their service offerings encompass procurement, inventory management solutions for excess stock liquidation, logistics coordination, and access to credit facilities.

The company boasts a network of over 500 manufacturers, dealers, and suppliers across 16 countries. Some notable names included in their partnerships are ArcelorMittal Nippon Steel, Tata Steel, and JSW.

Building on Previous Investment Success

Metalbook secured its initial round of funding in August 2023, with Axilor Ventures leading a $5 million seed funding round. This recent debt financing follows a successful Series A round concluded in February 2024, where Rigel Capital spearheaded a $15 million investment.

Financial Performance and Future Ambitions

While Metalbook has not yet disclosed its financial results for the fiscal year 2023 (FY23), their operational revenue for FY22 stood at Rs 85.39 crore. However, the company also reported increased losses of Rs 25.90 crore during the same period.

At the time of their Series A funding in February, Metalbook projected an ambitious target of achieving an annualized revenue run rate of $200 million by the end of FY24. This latest debt financing is likely to provide additional resources to fuel their growth strategy and help them achieve their financial goals.

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