Industrial projects often rely on outdated systems where price data is unclear, suppliers are scattered, and managing multiple orders takes time and effort. Finnish startup Cronval enables full price and availability transparency, faster ordering, and smarter supply chain decisions.
“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 Price information is hard to find, availability data quickly becomes outdated, and placing even a single order can involve multiple suppliers and countless contacts. 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,” says Walter Masalin, founder and CEO of Cronvall.
Today, this digital marketplace, helping industrial and construction companies manage procurement more efficiently, has raised €3.9 million to accelerate its European expansion. The funding round was led by Greencode Ventures, with participation from Stephen Industries, Innovestor, and several leading industrial family offices.
The fresh capital will help the Helsinki-based company scale its platform, grow its supplier network, and expand particularly in Germany, one of its fastest-growing markets.
Bringing transparency to industrial buying
Founded in 2018 by Walter Masalin, Cronvall is a digital procurement platform that connects industrial and construction companies with verified suppliers.
He tells TFN, “When I was still a venture investor at NGP Capital, I kept meeting extraordinary founders applying technology to transform industries. Then I’d look at our own family business, a local wholesaler of industrial products, and I couldn’t believe the inefficiency I saw. Endless manual work, unclear pricing, and a system that somehow sustained high margins despite zero transparency. It felt fundamentally broken.
I reached a point where I had to do something about it. My edge was the combination of pattern recognition I had built as an investor and a deep connection to the industry itself I had seen through our family business. When AI started changing what was possible, the timing felt right to reimagine how this sector operates.”
The company’s platform helps companies track and reduce waste by minimising order errors and redundant shipments, directly cutting CO₂ emissions. Cronvall’s marketplace already connects over 8,000 companies to a network of 150+ verified suppliers. Its customers include both small and medium-sized businesses and large corporations.
Masalin elaborates, “We’re building the digital backbone of industrial supply. We’re transforming procurement from a complex, unpredictable burden into an intelligent system that just works: where materials flow reliably, pricing is transparent, and operations stay on track every single time.”
“What sets us apart is the way we leverage data. We combine inventories from multiple manufacturers and wholesalers into one connected platform, unlocking liquidity and transparency that have never existed in this market before in that way. As more partners and transactions flow through Cronvall, our system continuously learns, improving how supply and demand are matched and how information moves across the value chain,” he adds.
What’s next?
The company expects to reach an annual turnover above €6 million this year. In Germany, its turnover has grown more than fivefold in the past 12 months, highlighting the rising demand for digital solutions in industrial supply chains.
Masalin concludes, “Our focus now is Germany, where we’re expanding our supplier network and deepening market coverage. In parallel, we’re developing AI agents that act as intelligent intermediaries between suppliers and buyers, capable of reasoning about availability, compatibility, and delivery in real time.
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.”