Kolkata, 14th May 2024: As Kolkata experiences a surge in infrastructure development alongside remarkable reforms in the power sector, the demand for essential raw materials such as steel and aluminum is escalating. Bizongo, a B2B platform offering supply chain financing and integrated raw material buying solutions, is aiming for rapid growth in the region by facilitating quick financing and efficient procurement methods for steel and aluminum buyers.
In a significant boost to urban mobility, a range of connectivity projects worth Rs 15,400 crore are planned in Kolkata, with India’s first underwater metro line marking a major milestone in the city’s infrastructure development. In addition to the city’s infrastructure projects like the Metro, Kolkata also witnessed the launch of 15,303 residential units, recording an impressive 87 percent year-on-year growth, signifying a proactive response from developers to meet the increasing demand for housing in the city. This multifaceted growth underscores the need for adaptable solutions in procurement and financing, aligning with the city’s diverse development landscape.
Tushar Kamat, Chief Business Officer at Bizongo said, “Kolkata is swiftly emerging as a hub for infrastructural advancements, witnessing a surge in various sectors, from the power and electrification sectors to the residential sector . At Bizongo, we are dedicated to contributing to the economic progress of the city. Our platform offers a seamless buyer journey, encompassing everything from inquiry and order placement to real-time order tracking and easy financing from over 30 financial institutions—all accessible via a user-friendly mobile app. Our vision is to expand our platform to encompass multiple categories within the next three to five years, further enhancing our contribution to Kolkata’s growth story.”
Bizongo Next offers a one-stop business financing mobile based app for MSMEs and large enterprises to access over 30 lenders in a single click, 100 percent digital documentation and quick credit sanction with auto-verified data. The B2B SaaS startup distinguishes itself by simplifying the finance application process through integrations to automatically fetch verified bank statements and other documents enabling speed of application and sanctions. 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.
The mobile app also acts as an AI-powered platform to give a consolidated view of all suppliers with raw material prices, giving buyers more options to purchase at the right price. This translates into cost savings through optimized procurement and boosts profitability through digitization of transactions.
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