Vendor Management Startup for Businesses to Businesses Bizongo, To provide digitalization solutions to micro, small, and medium-sized businesses (MSMEs), acquired FactoryPlus, an application for digitizing factories.
Bizongo will incorporate FactoryPlus’ mobile-first software as a service (SaaS) features, which include digital catalogues, real-time raw material prices, news feeds, and factory inventory management.
Through the acquisition, it will be able to provide raw material procurement solutions powered by artificial intelligence to local manufacturers, enabling them to source raw materials at the lowest feasible cost. In order to assist manufacturers in overcoming supply chain obstacles brought on by blocked working capital, it also attempts to enable embedded financing on the fly.
“With this acquisition of FactoryPlus, we aim to empower manufacturers with tailored solutions, such as digital raw material consolidation and embedded financing that can be seamlessly integrated into their supply chain and help them contribute to the country’s economic future,” said Bizongo cofounder and Chief Executive Officer Sachin Agrawal.
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Bizongo, a tech-enabled B2B-Platform, was founded in 2015 by Agarwal, Aniket Deb, and Ankit Tomar. It provides businesses with financing options, supply-chain automation, and vendor management. Through embedded financing platform and AI-powered vendor-digitization, Bizongo assists brands and businesses in achieving scalable growth. The only transaction-first platform with integrated networks of financial institutions and vendors is Bizongo. These institutions can make better financing decisions because they have access to deep intelligence on transactional data, which enables brands to finance their entire MSME-vendor-network at scale.