LeatherXchange.com, the Internet leather exchange, has announced it's first transactions since the website installed its own exchange module in April. In just five months the vertical portal has achieved a portfolio of over 300 clients from 15 countries in addition to 1,500 regular users.

LeatherXchange.com is one of the first vertical portals to operate in Europe. This electronic commerce platform for tanneries, manufacturers of leather articles, sales representatives, agents, suppliers of chemical products and machinery, offers a wide range of value added service - from business news to market price indexes, reports and consultancy services.

The business model of LeatherXchange.com is a net market maker, designed as a B2B vertical portal. Initially, it's main income derives from membership fees, since its commercial platforms are only open to members. Additional income is gained from fees for transactions and certificates. Magazines and leading experts in the sector, as well as the international new agency Reuters, provides sectorial news, reports and market indexes. These services are available to all registered visitors.

Founded in 1999 by Jose Suarez, the company has its head office in Barcelona, with offices in Italy, Brazil, the UK, India, Russia and opening shortly, in the US, Hong Kong, Mexico and Turkey. LeatherXchange is pioneer in the leather sector and expects to become the main commercial platform on the Internet both in terms of quality and volume of sales. It offers a full range of services for purchase, production, quality control and sale of wholesale jackets, hides, finished products, machinery and chemicals.

LeatherXchange.com raised a total of 11.5m euros in its first round of financing.