German trade matching portal Ferroso opens to market

Ferroso, an online portal for steel buyers and sellers founded in summer 2020, and initially operating with a selected limited numbers of participants, has now opened up for the entire market.

The founders of the Essen-based company describe Ferroso as a matching tool, rather than an online market place that requires distributors and consumers to study long lists. Instead, buyers enter the products they need in a search function and receive matching offers with prices, delivery conditions and contact details of the seller. On the other side, sellers receive only inquiries that fit their portfolio, Kallanish understands.

“On the steel market, people do not all speak the same language. Product terms may vary, and distributors differ in their ranges of products, shapes and measures,” chief executive Joanna Funck says of Ferroso’s approach.

Its data bank so far counts more than 250 distributors and several hundred inquiries, but the actual matching service has been limited to the selected participants. Now that it has been opened to the public, “the more companies that participate, the better the service works,” Funck says. The company had half a dozen employees in December and plans to double the number in 2022.

Christian Koehl Germany