Bizongo Raises $25M Working Capital Facility; Fintechs Twid, A Series Round Jify Bag

B2B commerce enablement startup Bizongo said it secured a $25 million working capital facility from Liquidity Group’s Mars Growth Capital. Separately, fintech startups Jify and Twin raised $10 million and $12 million respectively in new funding rounds.

Bizongo raises $25 million working capital facility

B2B commerce aid giant Bizongo secured a $25 million working capital facility from Tel Aviv-based Liquidity Group’s Mars Growth Capital.

In December 2021, Bizongo raised $110 million in a Series D funding round led by Tiger Global Management, valuing the company at $600 million.

“The working capital facility ensures 100% availability of made-to-order product supply and zero out-of-stock at a very low stock level, while helping Bizongo customers reduce the cost of sourcing their products to order,” said Yaron Primovich, managing director of Mars Growth Capital.

Bizongo was founded in 2015 by IIT graduates Aniket Deb, Sachin Agrawal and Ankit Tomar and focuses on packaging, textiles, apparel and other contract manufacturing products as a product portfolio and has a network of more than 6,300 partner factories. Through its proprietary digital platforms, such as Procure Live, Partner Hub and Artwork Flow, Bizongo said it offers digital vendor management, supply chain automation and supply chain finance in as key services to its corporate clients.

Jify raises $10M in Series A

Employee salary and financial benefits access platform Jify announced on Wednesday that it has raised $10 million in its Series A funding from Accel and Nexus Venture Partners.

Founded in 2021 by Anisha Dossa Aibara, Anusha Ramakrishnan and Aditya Mehta, Jify aims to use the new capital to strengthen its fintech product offering and accelerate customer acquisition across all industries and cities while aiming to increase adoption by Workforce.

The fintech platform also tracks user spending, helps set practical savings goals, facilitates smart budgeting, and provides access to simplified financial advice, along with its digital map.

Twid raises $12 million from Rakuten Capital

Indian rewards points startup Twid said it has closed its $12 million Series A funding round, led by Rakuten Capital, to expand into the South Asian market.

Twid, which stands for “It’s what I do,” said the round also saw participation from Google and existing investors including Sequoia Surge and Beenext.

Founded in 2020 by Amit Koshal, Rishi Batra, and Amit Sharma, the startup claims to have over 40 million active users on its network and counts JioMart, NedMeds, Yatra, Gaana, Wakefit, Ixigo, ConfirmTKT, and InterMiles among its partners.

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