Exclusive: Bizongo Raises $50 Million Funding From Existing Investors
10/04/23, 2:19 AM
Location
mumbaiMoney raised
$50 million
Industry
sustainability
professional services
Business-to-business vendor-digitisation platform Bizongo raised about $50 million from its existing investors in a Series-E funding round led by Schroder Adveq, a Zurich-based private equity firm.The money was raised at a valuation of $980 million, 63% higher compared with the previous round of funding in August 2022, cofounder and chief executive Sachin Agrawal told ET.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitIndian School of BusinessISB Digital TransformationVisitNorthwestern UniversityKellogg Post Graduate Certificate in Product ManagementVisitOther participating investors included International Finance Corp, Chiratae Ventures, B Capital and British International Investment, he said.The company, he said, is aiming to post a profit before tax in the fiscal year ending March 2024.It is currently in advanced discussions on an acquisition, said Agrawal, without sharing specific details. In 2022, Bizongo had acquired two companies: Hexa and Clean Slate Technologies.Powered ByVideo Player is loading.Play VideoPlaySkip BackwardMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently behind liveLIVERemaining Time -0:00 1xPlayback RateChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions and subtitles off, selectedAudio TrackPicture-in-PictureFullscreenThis is a modal window.No compatible source was found for this media.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanOpacityOpaqueSemi-TransparentText BackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanOpacityOpaqueSemi-TransparentTransparentCaption Area BackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanOpacityTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.AdvertisementThe Tiger Global-backed company was founded in 2015 by IIT graduates Agrawal, Aniket Deb and Ankit Tomar. It offers software-based vendor management and supply-chain automation and financing
Company Info
Location
mumbai, maharashtra, india
Additional Info
At Bizongo, we help brands and enterprises achieve scalable growth through our AI-powered vendor digitization and embedded financing platform. We are the only transaction-first platform with built-in ecosystems of vendors and financial institutions. With access to deep intelligence on transactional data, these institutions are able to take better financing calls, enabling brands to finance their entire MSME vendor network at scale.
Bizongo’s platform has an embedded ecosystem of 450+ brands/enterprises across diverse industries, an extensive vendor network of 7500+ businesses, and 30+ financial institutions. We are the only platform enabling seamless transaction facilitation and visibility of the supply chain to each ecosystem.