MSME lending platform Indifi Technologies Pvt Ltd on Tuesday announced that it has acquired a minority stake in Intellifi Technologies Private Limited, which operates B2B (business-to-business) service platform BizeeBuy.
BizeeBuy will use the investment fund for product development and market expansion, as per reported by The Economic Times.
As part of the deal, Indifi will integrate with BizeeBuy to provide support in the functioning, design, and processing of the platform and allow the latter’s customers to access credit services such as invoice discounting. In addition, the move will help India strengthen its technology offerings and provide access to BizeeBuy services to its customers.
Alok Mittal, Co-founder & CEO, Indifi, said in a statement, “The critical problems that BizeeBuy seeks to solve are pervasive across segments of the MSME sector, yet the solutions are not readily available. Joining forces with BizeeBuy was an easy decision considering their robust system and product, and we look forward to jointly unlocking great opportunities for our customers.”
BizeeBuy aims to digitize and optimize these interactions in the B2B ecosystem. The platform serves the entire “source-to-payment cycle” – starting from the time the business initiates sourcing, procurement, inventory, and final payment.
Ravi Tiwari, Founder & CEO, BizeeBuy said in a statement, “Indifi as a leading digital lending platform brings with them a deep understanding of the credit needs of the MSME space. We are excited to have them join us as strategic investors and I believe together we can further our overarching mission of technology-driven enablement of MSMEs.”
BizeeBuy s a Comprehensive Cloud-based platform for B2B commercial needs. Enabling backend commercial operations for D2C brands. The concept is to Bring all B2B stakeholders on a common cloud platform, making B2B Commerce: Automated | Efficient | and Compliant.
The headquarter of BizeeBuy is situated in New Delhi, it offered different types of services like Sourcing Suppliers, Service Providers & Manufacturers, Managing transactions with the above parties, Controlling the value chain in an Intelligent manner, and Optimizing the internal & external commercial processes.