Glasgow-based BLK, the online market platform for commodities and raw materials trading, has confirmed a £50 million equity round from Nimbus Capital, a Panama based investment group.
“This investment significantly boosts BLK’s growth plans and paves the way for a highly anticipated Initial Public Offering (IPO) in 2025, presenting a compelling investment opportunity,” said BLK.
“BLK is rapidly disrupting the traditionally offline and inefficient commodities market, offering a seamless and transparent digital platform that connects buyers and sellers of a wide range of raw materials, without intermediaries.
“This horizontal commodity marketplace model, alongside its direct physical fulfilment arm, addresses a multi-trillion dollar market opportunity ripe for disruption, offering significant potential for growth and investor returns.”
BLK said its peer-to-peer approach allows businesses to buy directly from producers, removing the multiple layers of middle men to bring down procurement costs and enhance profit margins for both suppliers and buyers.
The company said it is experiencing a strong growth trajectory, with over $6 billion of stock for sale on the marketplace and a revenue growth of 101% YoY.
BLK CEO Lalu John said: “We are delighted to welcome Nimbus as a strategic partner. The shared vision in the disruptive role of our technology, supported by the triple-digit growth BLK underwent over the past year, paves the way for a significant expansion of our operations.”
BLK founder Gabriele Dadò said: “This investment from Nimbus Capital validates our vision and strengthens our position for rapid scaling and ultimately, a successful public listing.
“Digitalization of the raw material and upstream supply chain is about to transform the market in the same way that it did retail 20 years ago – presenting an unparalleled opportunity.”
Robert Baker, Managing Partner at Nimbus Capital, said: “Nimbus Capital is proud to back BLK as they transform the $20 trillion global commodities market through digital innovation.
“Following rigorous due diligence, our investment reflects confidence in their leadership, market strategy, and rapid growth.
“With AI and blockchain integration, global expansion, and strategic maritime asset positioning in a $14 trillion trade ecosystem, BLK is poised for significant scale.
“Panama’s trade advantages further amplify their reach, positioning them for a successful IPO and strong investor returns.”