Felux was established in Cleveland, Ohio by a group of steel and technology executives with one mission in mind - to innovate a critical industry that has fallen behind.
With decades of steel experience, the Felux founders have conducted deals of all sizes, across all geographies and end markets. Over time, one similarity became painfully apparent: Transactions are conducted using outdated and analog methods.
Deals are managed and negotiated through email, phone call, in-person, or even fax. The Felux founders observed countless businesses frustrated by the resulting inefficiencies, human error, minimal visibility for management, opaque supply chain, and lack of succession planning.
In the summer of 2018 they decided enough was enough. It was time for a better way.
The founders built a team of top tier software developers and experienced steel professionals to build a platform that would revolutionize the space and arm market participates with a suite of digital solutions to enhance their business.
Since launching in May, 2019, Felux has grown it's community to over 200 member companies, posted over 200MM pounds in RFQ activity, and has over 100MM pounds of steel currently listed for sale.