bizongo

India-based business to business (B2B) trade enablement giant Bizongo announced Wednesday it has secured a $25 million working capital facility from Liquidity Group’s Mars Growth Capital.

Bizongo, India’s largest B2B platform for made-to-order goods, is at the forefront of companies transforming supply chains, and the credit line will fuel its footprint in Southeast Asia and address supply chain challenges, Bizongo said in a statement.

With the working capital facility, Bizongo will enable businesses across South East Asia to cater to the unprecedented demand despite the pandemic led disruptions including shuttered warehouses, lack of resources and lack of real time updates.

“Bizongo’s tech-first solutions have powered Indian manufacturers to automate their supply chain, access working capital and increase their clientele. We want to bring similar benefits to manufacturers across SE Asia and help them scale in a market which is priming with opportunities. The credit line from Mars Growth Capital will fuel our expansion into more sectors,” said Bizongo Co-Founder and Chief Executive Officer Sachin Agrawal.

Bizongo is a tech-enabled B2B platform for made-to-order goods that digitally transforms vendor management & supply chains. Founded in 2015 by three Indian Institute of Technology graduates, Bizongo offers packaging, apparels, agri products and more for industries such as consumer durables, fashion and lifestyle, textiles, consumer discretionary, pharmaceuticals, home and personal care, while bridging this gap and empowering the buyer and seller communities.

With sophisticated technology to encourage businesses to go online, the company’s mission is to provide end-to-end optimized solutions and become an ideal destination for all business transactions. It is among a growing number of B2B tech giants that continue to attract investor interest as they seek to offer streamlined, efficient, and organized procurement and supply chain services.

According to the statement, while India has seen major players entering the business to consumer (B2C) market owing to the surge in internet users, the $500 billion B2B market still remains untapped.

Currently, the B2B is fragmented and unorganized, with challenges arising from offline processes, catalog and artwork management, ad-hoc vendor engagement, lack of transparency, manual purchase planning, high inventory, loss of sales, and delayed payments to vendor partners. These challenges significantly impact the go-to-market, top line, bottom line, and operational efficiency of the enterprises.

At its core, Bizongo has a tech-first versus trade-first approach and is enabling businesses with services across digital vendor management, supply chain automation, and supply chain financing. The B2B e-commerce platform digitally transforms the vendor ecosystem and integrates it with customer’s end-to-end supply chain processes to deliver agility and transparency across the entire value chain.

“The working capital facility drives for 100 percent availability of made-to-order goods procurement and no-stock-outs at very low inventory level, as well as help Bizongo’s clients to reduce their made-to-order product’s procurement cost. Whenever we can provide capital to companies which drives cost efficiency — we see that as a win.” said Yaron Primovich, Managing Director at Mars Growth Capital and the Global Chief Revenue Officer (CRO) of Liquidity Group, a Tel Aviv based global capital market credit automation leader.

The MARS fund deploys in the SE Asian, Pacific, and European markets, backing FinTech, software as a service (SaaS), and e-commerce businesses with the financing they need to stimulate growth and expand their client bases. Tel Aviv-based Liquidity Group’s artificial intelligence (AI)-driven due diligence platform allows companies worldwide to obtain debt funding within 72 hours from the time of application.

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