Helsinki-based Cronvall has secured €3.9 million in funding to expand its digital procurement platform for the industrial and construction sectors across Europe. The round was led by Greencode Ventures, joined by Stephen Industries, Innovestor, and several industrial family offices. Cronvall’s platform centralizes purchasing by linking companies to more than 150 verified suppliers, providing real-time visibility on prices and availability—an area often marked by fragmentation and inefficiency. The company currently serves over 8,000 clients in Finland and Germany and plans to use the funding to strengthen its technology and scale operations in new markets, particularly Germany.
Cronvall is building a more transparent, efficient, and data-driven supply chain for the industrial sector. Cronvall’s digital procurement platform provides construction and industrial companies with an easy and efficient way to manage critical purchases. Through the platform, customers can access a network of over 150 trusted suppliers, compare prices with full transparency, and seamlessly handle everything from ordering to delivery tracking.
“Industrial and construction procurement is often complex and fragmented. Price information is hard to find, availability data quickly becomes outdated, and placing even a single order can involve multiple suppliers and countless contacts,” says Walter Masalin, founder and CEO of Cronvall. “Cronvall eliminates the frictions and brings long-needed clarity to this process: one platform, transparent pricing, and a seamless procurement experience from start to finish.”
Cronvall serves over 8,000 industrial and construction companies, ranging from SMEs to publicly listed corporations. The company is on track to achieve an annual turnover exceeding €6 million, driven by particularly strong growth in Germany, where Cronvall has increased its turnover more than fivefold in just one year.
“Across Europe, industrial projects rely on efficient procurement, and delays or incorrect orders simply aren’t an option. We ensure that the right materials reach the right place at the right time, helping projects move faster and improving both productivity and profitability across the industrial sector,” Masalin continues.
In addition to growing demand for productivity and efficiency, new reporting requirements are reshaping construction and industrial procurement. As global sustainability reporting requirements grow, procurement in the construction and industrial sectors is now increasingly evaluated not only by price and quality, but also by its environmental and social sustainability.
“Our goal is to grow Cronvall into a leading operating system for industrial procurement in Europe, connecting thousands of suppliers and buyers through one transparent, data-driven network. Every avoided order error or redundant shipment means fewer trucks on the road and measurable CO₂ reductions. This proves that efficiency and sustainability can scale together,” Masalin adds.
With the support of the new funding, Cronvall is focusing on scaling its technology and accelerating growth, particularly in Germany. The €3.9 million funding round was led by Greencode Ventures, with participation from Stephen Industries and existing investor Innovestor. In addition to venture capital investors, the round attracted several family offices from the industrial sector, underscoring strong industry recognition.
“Cronvall’s transparent, seamless, and intelligent marketplace empowers buyers and suppliers alike, and their innovative team, combined with their commitment to digital and green procurement practices, convinced us to invest. We believe Cronvall will transform industrial sourcing through its unique blend of transparency, automation, and AI-driven intelligence,” says Ines Bergmann-Nolting, Managing Partner at Greencode Ventures.
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Read the orginal article: https://arcticstartup.com/cronvall-raises-e3-9m/
