Hamburg-based waste management platform, Resourcify, has secured €14 million in a Series A funding round. The main objective is enhancing its SaaS offering and expanding across Europe.
About the company
Founded in 2015, Resourcify operates in the waste management and recycling sector. It assists businesses in streamlining and optimising recycling efforts. Their service automates recycling processes, promoting efficiency and transparency. Consequently, companies can recycle more mass while simultaneously cutting costs. Resourcify’s overarching mission is to simplify the journey towards zero-waste targets for businesses.
Key investments and milestones
Vorwerk Ventures spearheaded the Series A round. Other notable participants included Revent, Ananda Impact Ventures, Speedinvest, BonVenture, and WEPA Ventures. Since its inception, Resourcify has processed over 500,000 tonnes of waste. With further enhancements to its SaaS platform, it aims to boost CO2 savings. In mid-2021, after securing €3 million, it operated across seven European countries. It collaborated with 220 waste management firms and managed waste worth €25 million at 4,300 locations.
CEO’s vision for growth
Gary Lewis, Resourcify’s CEO, comments, “Achieving Series A is pivotal for our European expansion, waste reduction, and saving companies money. Currently, we manage €100 million in waste. Another €100 million is expected via our alliance with Interzero. Our objective is to double these numbers next year, striving to be Europe’s foremost circular platform.”
Waste management digitisation
Waste poses significant challenges to people, communities, and the environment. There’s a growing need for companies to refine their waste management and recycling. Resourcify digitalises this process in a market projected to reach approximately €800B by 2030. Their platform connects international businesses with local recycling firms. This collaboration refines sorting and recycling, streamlining existing procedures, saving significant labour hours and reducing overall costs.
Felix Heinricy, Resourcify’s CBDO and Managing Director, states, “Our business model serves various verticals and markets. We’re now exploring more services to actualise a truly circular economy for an expanding customer base.”
Towards a sustainable future
Resourcify’s founders – Felix Heinricy, Gary Lewis, and Pascal Alich – envision a zero-waste future. Their platform links global enterprises with local recycling units to refine recycling processes, save labour hours, and reduce expenses. With their platform, businesses can supervise, trace, and enhance their recycling. They can achieve up to 40% cost savings compared to traditional waste management methods. Prominent global enterprises, such as McDonald’s, Hornbach, and Johnson & Johnson, rely on Resourcify.
Insight into the investor
Vorwerk Ventures, a €150M independent Venture Capital Fund with assets worth €400M, primarily focuses on sustainable business models. Located in Berlin, they invest between €1M and €10M in Seed/Series A rounds, reserving up to €15M for future financing.
Dominik Steinküler, a partner at Vorwerk Ventures, expresses, “We’re intrigued by Resourcify’s platform and the tangible benefits for its users. Their digitised recycling offers significant process efficiencies. The team is devoted to a zero-waste future, and we’re thrilled to support their mission.”
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