Amsterdam-based VonWood declared bankrupt: Know more

Amsterdam-based VonWood, a digital trading platform for Wood, has been declared bankrupt by the Amsterdam District Court, earlier this week.

The company, known for making the online trading process completely transparent and affordable, could not reportedly fulfil its financial obligation, resulting in shutting down operations.

“Our team and partners have worked tirelessly to bring digital transformation to the timber industry. Unfortunately, the inherent conservatism of the industry has made it challenging to achieve this goal,” says David de Jong, CEO and co-founder of VonWood to Silicon Canals.

DD Nijkamp has been appointed as the trustee for the bankruptcy settlement.

The bankruptcy announcement comes nine months after getting selected for the 13th cohort of its flagship Rise programme. 

VonWood: Digital trading platform for Wood

According to the Dutch company, there are several intermediaries in the timber industry, 

primarily between the sawmill that cuts the tree into planks and the businesses that process the timber in their end products, such as importers, traders, agents, and others. 

The intermediary trade drives up the price of wood, making the product more expensive than necessary.

Founded by David de Jong and Minck Hermans in 2022, VonWood brings wood buyers and sellers together with a new online trading platform without intermediaries. 

The company aims to make the online trading process completely transparent and cheaper.

Besides connecting buyers and sellers, VonWood provides insight into the wood’s origin, quality, and sustainability. 

In addition to the conventional replanting of FSC-approved wood, the company also compensates for every platform transaction by planting new trees.