Metalbook, a comprehensive metal supply-chain platform, has recently clinched a significant achievement by securing Rs 25 crore (approximately $3 million) in debt funding from Northern Arc. This marks Metalbook’s debut in debt financing, showcasing a strategic move for the Delhi-based company. The funding follows closely on the heels of a successful Series A round in February 2024, where Metalbook raised $15 million, led by Rigel Capital.
According to regulatory filings accessed from the Registrar of Companies (RoC), Metalbook’s board passed a special resolution to issue 250 non-convertible debentures valued at Rs 10,00,000 each, culminating in the financing as mentioned earlier.
Founded in 2021, Metalbook has swiftly positioned itself as a full-stack platform catering to various business needs, particularly aiding SMEs in procurement, inventory liquidation, logistics, and credit facilitation. With an extensive network spanning over 16 countries, Metalbook boasts partnerships with more than 500 manufacturers, dealers, and suppliers, including industry giants such as ArcelorMittal Nippon Steel, Tata Steel, and JSW.
This recent financing round adds another milestone to Metalbook’s journey, building upon its previous successes. Notably, in August of the last year, Axilor led a $5 million seed round in the company.
While Metalbook is yet to disclose its financial performance for FY23, its revenue from operations stood at an impressive Rs 85.39 crore in FY22. However, the same period also saw increased losses, totalling Rs 25.90 crore. Despite this, Metalbook remains optimistic about its growth trajectory. During the Series A round in February, the company anticipated achieving an annualized revenue run rate of $200 million by the conclusion of FY24.
As Metalbook continues to fortify its position in the metal supply-chain ecosystem, the recent debt funding from Northern Arc is expected to provide the company with the necessary resources to expand its operations further, enhance its technological infrastructure, and solidify its presence in both domestic and international markets.
