Bizongo Expands into Rajasthan, Simplifying Financing and Procurement for Steel and Aluminum Buyers

Bizongo, a B2B supply chain platform, plans to expand its presence in Rajasthan by offering financing and procurement solutions for steel and aluminum buyers. The company aims to provide raw materials at competitive rates, with financing from multiple institutions. Bizongo also plans to expand into other categories like polymer, copper, and textile. With the state's growing infrastructure, residential projects, and power sector reforms, demand for these materials is expected to rise. Bizongo has over 350 customer enterprises, 6,000 suppliers, and 35 financial institutions, with annual financing of around Rs 5,000 crore. Its app offers 100% digital documentation, quick credit sanction, and real-time transaction data, empowering financial institutions with better underwriting decisions. Additionally, the app provides buyers with a consolidated view of suppliers and prices for informed purchasing.

Bizongo, a B2B platform which offers supply chain financing and integrated raw material buying solutions, on Thursday announced plans to expand presence in Rajasthan by facilitating quick financing and procurement for steel and aluminum buyers.

At present, Bizongo supplies raw materials of steel and aluminium to micor, small and medium enterprises on cheap rates with financing options from multiple financial institutions through its digital platform.

Tushar Kamat, Chief Business Officer at Bizongo, said the company is planning to expand its categories of raw material to polymer, copper and textile in near future.

He said that growth in infrastructure and residential projects as well as comprehensive reforms in the power sector and electrification across the state has led to an increase in demand for raw materials such as steel and aluminum.

''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,'' Kamat told reporters here.

According to Kamat, the platform has 350 customer enterprises, more than 6,000 suppliers and around 35 financial institutions. Also, it manages demand generation, raw material supply and financing through mobile app.

''Financing of around Rs 5,000 crore is being done annually through our platform,'' he said.

Through Bizongo app, 100 per cent digital documentation is done and quick credit sanction with auto-verified data is made, he said.

''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 said the app also acts as an AI-powered platform to give a consolidated view of all suppliers with raw material prices, giving buyers options to purchase at the right price.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)