Bizongo, an Indian B2B procurement platform, got $25 million in finance from Liquidity Group of Tel Aviv in order to expand into Southeast Asia.
Bizongo, established in India, provides services for supply chain automation, finance, and digital vendor management. It presently collaborates with over 135 clients from a variety of sectors, including e-commerce, healthcare, and fashion & leisure.
The co-founder and CEO of Bizongo, Sachin Agrawal, stated that the business aims to provide comparable advantages to firms around Southeast Asia and aid them in growing in the dynamic market.
The funding will also help Bizongo maintain the availability of its packaging materials, prevent stock-outs at extremely low inventory levels, and assist its clients in lowering the cost of procuring made-to-order products, according to Yaron Primovich, the Liquidity Group’s global chief revenue officer.
In a series D financing sponsored by Tiger Global Management in December 2021, Bizongo raised US $110 million, valuing the company at US $600 million.
Aniket Deb, Ankit Tomar, and Agrawal launched the company in 2015.