Construction rental startup YardLink raises funding from Speedinvest

YardLink allows construction companies to obtain critical equipment faster than traditional equipment rental companies. It’s now raised a £1.7m seed round, bringing the total it’s raised to date to £2.4m. The round was led by Speedinvest Network Effects, with participation from FJ Labs.

Construction sites often have to hire equipment, but the centralized nature of the traditional hire market means suppliers can be slow to deliver, leading to downtime on-site, and delayed projects. Traditional suppliers include HSS Hire, Travis Perkins, Speedy Hire, Sunbelt Rentals. But YardLink aims to speed this process up with a digital-first, marketplace approach. It has a network of 100 suppliers with over 1,400 equipment depots across the UK.

The construction industry faces new guidelines to prevent the spread of coronavirus, such as having to provide portable site cabins and accommodation for its workforce. This, coupled with tight availability in the market and more demand for renting equipment, rather than buying it.