India’s Bizongo secures $25m working capital facility from Liquidity Group’s Mars Growth Capital

Indian business-to-business (B2B) giant Bizongo announced on Wednesday that 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 products, is at the forefront of companies transforming supply chains, and the line of credit will fuel its footprint in Southeast Asia and will address supply chain challenges, Bizongo said in a statement.

Through the Working Capital Facility, Bizongo will enable businesses across Southeast Asia to meet unprecedented demand despite disruptions caused by the pandemic, including closed warehouses, lack of resources and lack of real-time updates.

“Bizongo’s technology solutions have enabled Indian manufacturers to automate their supply chain, access working capital and increase their customer base. We want to bring similar benefits to Southeast Asian manufacturers and help them grow in a market that offers new opportunities. Mars Growth Capital’s line of credit will fuel our expansion into more sectors,” said Bizongo Co-Founder and Managing Director Sachin Agrawal.

Bizongo is a technological B2B platform for made-to-order products that digitally transforms supplier management and supply chains. Founded in 2015 by three Indian Institute of Technology graduates, Bizongo offers packaging, apparel, food and beverage and more for industries including consumer durables, fashion and lifestyle, textiles, consumer discretionary, pharmaceuticals, home and personal care, while closing this gap and empowering communities of buyers and sellers.

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 one of 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 release, while India has seen major players enter the business-to-consumer (B2C) market due to the increase in internet users, the $500 billion B2B market still remains untapped.

Currently, B2B is fragmented and unorganized, with challenges related to offline processes, catalog and artwork management, ad-hoc supplier engagement, lack of transparency, manual procurement planning, high inventories, lost sales and late payments to supplier partners. These challenges have a significant impact on companies’ go-to-market, revenue, bottom line, and operational efficiency.

At its core, Bizongo has a technology-rather-than-commerce-focused approach and offers businesses digital vendor management, supply chain automation, and supply chain finance services. The B2B e-commerce platform digitally transforms the supplier ecosystem and integrates it with the customer’s end-to-end supply chain processes to deliver agility and transparency across the entire value chain.

“The working capital facility ensures 100% availability of made-to-order product purchases and no stockouts at very low stock levels, while helping Bizongo’s customers reduce the cost of sourcing their products on ordered. Whenever we can provide capital to businesses that improve profitability, we consider that a win. said Yaron Primovich, Managing Director of Mars Growth Capital and Global Chief Revenue Officer (CRO) of Liquidity Group, a global leader in capital market credit automation based in Tel Aviv.

The MARS fund is rolling out to markets in Southeast Asia, the Pacific and Europe, supporting FinTechs, software as a service (SaaS) and e-commerce businesses with the funding they have need to drive growth and expand their customer base. Tel Aviv-based Liquidity Group’s artificial intelligence (AI) due diligence platform enables companies around the world to secure debt financing within 72 hours of application.

India’s B2B e-commerce marketplace Jumbotail raises $85M Series C led by Invus

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