Bizongo, a B2B platform specialising in supply chain financing and integrated raw material procurement solutions like aluminium and steel, has entered the next phase of expansion with BizongoBuy and BizongoFin. Backed by Accel and IFC, the Series E-funded B2B e-commerce platform is strategically adopting the 'golden triangle' approach—integrating commerce, financing, and logistics, a model traditionally used in B2C—to drive innovation in the fast-evolving B2B space.
Both BizongoBuy (raw material marketplace) and BizongoFin (embedded supply chain finance platform) will be expanded into new and larger businesses, followed by the appointment of a new CEO. Additionally, Bizongo has bolstered its senior leadership by appointing a Chief Technology & Product Officer and a Chief Financial Officer. Bizongo has secured $205 million in funding from prominent investors, including Accel, Chiratae Ventures, IFC, BCapital, Schroders, BII, Tiger Global and others.
About the platform
On its BizongoBuy platform, the company partners with major suppliers of aluminium and steel to source raw materials in bulk and distribute them digitally to over 100 SME manufacturers, offering industry-leading turnaround times and highly competitive prices.
With the addition of four industry veterans to its leadership team, Bizongo is set to strengthen its focus on utilising its e-commerce and embedded financing platforms to empower SMEs, reinforcing its vision of enabling seamless 'Business On the Go' (Bizongo). To date, Bizongo has facilitated over ₹14,000 crore in flow-based invoice financing for more than 1,500 SMEs, supporting their digital transactions with customers and suppliers through its platforms.
"The market opportunity in Indian B2B E-Commerce is scaling rapidly - fuelling growth across the famous industry troika of commerce, financing and logistics. We have attained a high growth momentum across our digital platforms for integrated raw material buying, and embedded supply chain financing. With the addition of Kiran, Prahlad, Gaurav, and Amol, we are bringing in leaders with diverse and complimentary skill sets that will significantly contribute to Bizongo's vision of bringing technology to businesses in simple and meaningful ways to make Business On the Go," said Sachin Agrawal, Co-founder & CEO of Bizongo.
The new appointments
Kiran Dev, a former banker, has been appointed Chief Executive Officer of BizongoFin, the fintech division focused on embedded supply chain financing solutions, aiming to tackle SMEs' $300+ billion unmet credit needs. With over 19 years of experience, including leadership positions at Disprz and Standard Chartered Bank, she will play a pivotal role in providing flow-based embedded financing to SMEs through BizongoFin's multi-financial institution platform.
Prahlad Krishnamurthi has been appointed Chief Executive Officer of BizongoBuy, the integrated B2B marketplace for SMEs purchasing raw materials. With over two decades of experience, including leadership roles at Cleartrip, Flipkart, Infosys, and ITC Group, Prahlad will focus on advancing BizongoBuy's mission to offer highly reliable raw material delivery at competitive prices.
Additionally, Gaurav Singhania, who brings over 20 years of experience from American Express and LendingKart, has been named the group's Chief Financial Officer. His expertise in financial management will be instrumental in strengthening Bizongo's financial processes and controls as the company prepares for its IPO.
Amol Wanjari, with over two decades of experience and previous leadership roles at Amazon and Acko, joins as the group's Chief Technology and Product Officer. He will leverage his expertise to deliver a seamless, e-commerce-like experience for Indian SMEs through Bizongo's digital platforms.
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