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News > General > The Build Chain

The Build Chain

A huge congratulations to Matthew McClune (M 09-14) who has received funding for his start-up business, The Build Chain.
12 Oct 2022
Written by Hannah Peacock
General
Matt and his team at The Build Chain
Matt and his team at The Build Chain

What lead you to starting up your own business? 

I struggle with instructions and tend to do my own thing! (Some of my previous teachers can probably confirm that!) That doesn’t work very well when you have a boss, so I think starting my own business was the only way forward. I also like having a go at different things, I don’t feel phased by failure and I’ve always had a “deal with it at the time” mindset, sometimes looking too far ahead at all of the negative things that could happen will stop you doing something positive in the first instance.

When did your business begin? 

The idea was formed early 2020, when Covid hit around March 2020 the construction sector was forced to adapt to digital technology in order to continue doing business, so it provided an opportunity to accelerate the development of the idea as the market was adopting change at a quicker pace. Due to developing a minimum viable product and fundraising efforts, the business didn't become “full time” until March 2021.

Tell us a little more about your business. 

The Build Chain is an online platform that connects Contractors nationally, with Suppliers locally in the UK construction sector through one centralised digital dashboard. Contractors submit enquiries to hire equipment or buy materials through our system and in a matter of seconds we connect them with Suppliers local to site with the required stock, whilst providing data analytics to evidence Social Value, Compliance & Governance and Environmental Sustainability.

What have been some challenges you have faced so far? 

Getting people onboard with a new concept that has not been seen before across an industry as big as construction has been difficult, especially when digital adoption is still not entirely welcomed, there is still some resistance to change but that is expected due to the nature and speed of digitalisation. However, with a lot of perseverance, businesses both large and small are seeing the benefits of what The Build Chain has to offer.

What are some of your successes so far?

£620,000 raised to date. £2million valuation just 12 months after starting the business. Attracted interest from the biggest builders merchants in the UK and Contractor‘s spend value is an estimated £40-50million per annum. Our next target is £100million of spend through the platform, with our long term aim of achieving £1billion of Contractor spend by 2027.

Find out more here: https://www.finance-yorkshire.com/news-and-events/construction-technology-entrepreneurs-secure-finance-yorkshire-investment

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