Bizongo enters the Rajasthan market to expedite funding & procurement for aluminium buyers

On Thursday, Bizongo, a B2B platform specialising in supply chain financing and integrated raw material procurement solutions, revealed its strategy to enhance its footprint in Rajasthan. The aim is to expedite the funding and streamline procurement processes for buyers in the aluminium and steel sectors. 

"With the Rajasthan government working to bolster the road network and the existing metro network in Jaipur, the steel sector is witnessing a rapid demand in residential real estate. At the same time, demand for aluminium raw material is increasing due to consumption in the energy sector. In view of this, we are expecting rapid growth in the region," stated Tushar Kamat, Chief Business Officer at Bizongo.

About Bizongo & expansion plans

Currently, Bizongo provides aluminium and steel raw materials to micro, small, and medium enterprises at competitive rates. It offers financing options from various financial institutions through its digital platform. Tushar Kamat outlined the company's forthcoming expansion plans. They intend to broaden their range of raw materials to include polymer, copper, and textiles shortly.

"Financing of around Rs 5,000 crore is being done annually through our platform. Simultaneously, through real-time, verifiable transaction-level data, including movement of goods, credit history etc., the platform enables financial institutions to improve their underwriting decisions," he added.

Kamat noted that the surge in infrastructure and residential developments, coupled with extensive reforms within the power sector and widespread electrification initiatives across the state, has spurred a heightened demand for essential raw materials like steel and aluminium.

He stated that the platform serves 350 customer enterprises, collaborates with over 6,000 suppliers, and partners with approximately 35 financial institutions. Furthermore, it seamlessly oversees demand generation, raw material supply, and financing through its mobile app.

Kamat emphasised that the app operates as an AI-powered platform, providing a comprehensive overview of all suppliers and their respective raw material prices. This unique feature empowers buyers with a multitude of options, enabling them to make purchases at the most advantageous price points.