B2B Trade Platform Bizongo Raises $25 Million
Bizongo, a B2B platform for made-to-order goods raises $25 million from Liquidity Group's Mars Growth Capital. The platform is at the forefront of companies to solve the pandemic-induced supply chain challenges.
Company handouts
"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 Southeast 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 Sachin Agrawal, co-founder and CEO.
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 service, as per company statement.
"The funding will allow for 100 per cent availability of packaging material and no-stock-outs at very low inventory level, as well as help Bizongo's clients to reduce their made-to-order product line procurement cost," said Yaron Primovich, managing director at Mars Growth Capital and the global CRO of Liquidity Group.
Founded in 2015, 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 empowering the buyer and seller communities. The 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.
