Power2SME, a Gurgaon, India-based “Buying Club” for SMEs, raised INR 42 crores in Series C funding.
Backers included existing investors Accel Partners, Kalaari Capital and Inventus Capital.
The company intends to use the funds to expand its business across the country increasing adoption among SMEs, enhancing its product portfolio, diversifying its sourcing channels and growing focus on imports.
Led by Mr. R. Narayan, Founder & CEO, Power2SME works with SMEs to pool their raw material demands and benefit from the power of collective buying.
The company also has offices in Ahmedabad, Chennai and Kolkata and a team of 150 + employees.