Felux is a digital B2B marketplace and end-to-end supply chain platform that enables buyers and sellers of steel and other metals to source, procure, ship and finance products in a single platform. The company offers a digital supplier onboarding and presence product, a marketplace to buy and sell materials, and a materials and procurement platform for managing quarterly and annual contracts, alongside freight pricing and a suite of financial tools. Felux facilitated $454 million of transactions on its platform in 2021 (up from $64.9 million in 2020) and serves 1,000 customers across 1,700 locations, including Fortune 500 manufacturers, steel mills and service centers across the US, Canada and Mexico. Founded in 2019 in Cleveland, Ohio, the company has raised a total of $24 million in the last 10 months and intends to use the new Series A to accelerate product development, growth and hiring. Felux has begun expanding beyond steel into aluminum and plans to add adjacent markets such as copper, stainless steel and scrap metal, with additional commodities and geographic expansion planned for 2023–2024. The company plans a late-2023 launch into the $460 billion European market. Felux is a B2B marketplace and supply chain platform for the steel and industrial industry that provides tools and software to manage digital commerce, customer relationships, buyer and supplier discovery, logistics services and financing options. The company serves more than 1,500 customer locations covering 95% of the United States, and has a presence in Canada and Mexico. Its customers include Fortune 500 manufacturers, steel mills, and several of the top 50 steel service centers and processors. Felux plans to use new capital to continue expanding operations and its business reach. The company was founded in 2019 by Dallas Hogensen (CEO) and Chris Day (COO) and is based in Cleveland, OH. The article reports that Felux raised $5.1M in seed funding to support its growth.

Total raised

$24M

Funding rounds

2

Latest round

Series A

Latest activity

Jun 2022