€1,200,000 for a digital concrete platform

Challenge

The concrete industry often operates in a traditional, inefficient way, with a high risk of errors. Betrotrace saw an opportunity to digitize this process. However, developing such an innovative digital platform comes at a significant cost.

The founders of Betrotrace were willing to invest their own capital and had already made connections with potential investors from their network. They approached The Harbour for help with valuation, financial planning, and overseeing the deal process.

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Approach

The founders, experienced entrepreneurs with a background in the wholesale sector, provided initial capital themselves. Together with external investors, they raised €660,000 in risk capital.

This substantial contribution was a key asset in securing additional funding. The Harbour helped double this investment by creating a credit file, enabling PMV to co-finance the project with the bank, providing an additional €540,000 to Betrotrace. ParticipatieMaatschappij Vlaanderen (PMV) also guaranteed 75% of the bank loan. Government-backed investment played a crucial role in making the risk more acceptable to the bank.

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Result

The platform is now ready for market launch and scaling. Betrotrace is in active discussions with interested users, including both concrete plants and large construction companies. If they can overcome any initial hesitation regarding digital adoption, the platform has the potential to transform the sector.

The funding process was intensive, but Betrotrace is now looking to the future with confidence. To achieve its ambitious growth plans, the company will likely need further capital rounds. The Harbour is ready to assist Betrotrace again in the future.