For building india’s first technology-enabled buying club for SMEs.
Today, manufacturing SMEs spend a sizable percentage of their working capital on raw material procurement and majority of their efforts go into looking for a trustworthy supplier who can provide them quality raw material at competitive price. Power2SME solves this problem through its demand aggregation business model wherein it procures bulk raw material directly from the manufacturers and avails economies of scale which it passes on the SMEs.
Funded by Kalaari Capital, Accel Partners and Inventus Capital Partners, Power2SME has recorded over 100 per cent growth in 2015. In the long run, it aims to empower SMEs for the Make in India growth story, and achieve lower Turn Around Time (TAT) in procurement and best possible price discovery.
SME Khabar provides curated content in the form of SME related news, government & ministerial announcements at one place tailor made for SME owners. It also provides entrepreneurial news & tips from across the globe.
Power2SME Mobile App Power2SME’s Android mobile app helps SMEs source raw materials by aiding them in viewing purchase orders and payment receipts, tracking delivery status, getting current prices and quotes on the move, tracking material availability and viewing trending SMEs news.
According to a CII report, working capital demand is estimated to account for approximately 61 per cent of (an SME’s) total financial need. Getting unsecured loans from banks is a lengthy process and requires lot of documentation. Since NBFCs provide timely monetary assistance to SMEs to meet their working capital requirements, Power2SME acts a facilitator by bringing together SMEs & NBFCs on a common platform.