Power2SME, an e-commerce portal that supplies raw materials such as steel and plastics to small and medium-scale enterprises, is looking at Rs.350 crore to Rs.400 crore sales this year against Rs.137 crore in 2014-2015.
Deepak Gupta, Vice-President – business development of Power2SME, told presspersons here on Tuesday that the company had received funding to the tune of about Rs.100 crore ($15 million) during the last two-and-a-half years from Inventus Capital Partners, Kalaari Partners, and Accel partners. Talks are on for further finding, he said. About 30,000 SMEs are registered with it.
In order to give cost advantage to small and medium-scale enterprises (SMEs) that purchase raw materials through the portal, it has tie-ups with Indian and foreign companies for supply of steel and plastics. Nearly 60 per cent of customers are based in north India, 25 per cent in the west and the remaining in the south. It plans to expand operations to Andhra Pradesh, Telangana, Karnataka, Punjab and Jharkhand. The company sets up warehouses in each State, where it starts operations. The portal also has tie-ups with non-banking financial corporations to extend loans to the SMEs.
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