8 years ago

BunkerEx Raises £400,000 to Disrupt the Shipping Fuel Market

  • BunkerEx, a London-based startup, has raised £400,000 in a pre-seed round from Seedcamp, the London Co-Investment Fund, and unnamed angel investors

  • BunkerEx is building an online marketplace to change the way shipping companies buy fuel

  • The platform allows buyers to post their request for fuel and receive bids from verified suppliers in a live auction

  • BunkerEx says it charges a fixed commission to the supplier but doesn't charge the buyer anything

  • The company is going after a potentially huge market, with 400 million tonnes of fuel delivered to ships every year.

      • ProblemTechnology Infrastructure

      "Buying fuel for ships is opaque and expensive. Shipping companies rely on brokers who don't always act in their best interests, leading to higher prices and lack of transparency."

      Solution

      "BunkerEx is an online marketplace that allows shipping companies to buy fuel directly from suppliers, eliminating brokers and providing transparency. The platform connects buyers and suppliers through an auction system, allowing for competitive pricing and efficient transactions."

      Covered on