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power2sme Receives INR 10 Crore Commitment from Inventus Capital Partners

power2sme, the buying club for SMEs, announced today that it has received INR 10 crore commitments from Inventus Capital Partners. The company power2sme was started with a seed capital of INR 2 crore and the recent funding from Inventus Capital Partners will act as a booster for rapid expansion in the Indian market.

power2sme has a long term vision of empowering SMEs by helping reduce their purchase costs with the help of experienced and specialized professionals. As a buying club, power2sme aggregates the demand of hundreds of SMEs that enables the company to obtain the best possible pricing for their procurement needs. The business model empowers SMEs by eliminating the need to engage with multitude of vendors, doorstep delivery of the goods through reputed logistics providers, flexible payment options, placing orders online 24x7 and being the single destination for SME for managing purchase requirements across multiple locations.

Commenting on the occasion, R. Narayan, Founder & CEO, power2sme said, “We are strong believers in the potential of India's SME market, and our objective is to expand our business with the ability to cater to SMEs across multiple sectors. The new funds will be used to expand the business and enhance the product offering. We have an aggressive outlook on growth, where we expect to end our first year with annual sales of INR 50 crore, growing to INR 1,000 crores over the next 3 years.”

Parag Dhol, Managing Director, Inventus Capital Partners said, “We fully support power2sme’s vision as a trusted business partner with a mandate to make SMEs more competitive in their business. Backed by a strong leadership team and intimate understanding of the Indian B2B market, power2sme has a huge potential to grow and position itself as an enabler for SMEs. The company has delivered remarkable results in a short span of time, making SME procurement more cost-effective in India.”

“Our focus is towards working with large, established and trusted suppliers, so our customers are assured of the quality of the product that they buy from us. We provide SMEs an online platform that offers information and tools, enabling them to both improve their efficiency and reduce their procurement costs. Hence, our business allows SMEs to compete on an equal footing with large enterprises,” said Narayan.

Parag Dhol of Inventus Capital will join the power2sme’s board.

Commenting on the deal, Mukesh Jain, Founder & CEO, Zanskar Advisors Private Limited said, “Zanskar Advisors was the exclusive financial advisor to power2sme for this transaction. The deal is a significant step forward for power2sme in their vision of empowering SMEs and we are confident that their unique business model will lead to significant business growth and expansion.”

About power2SME

Gurgaon based power2sme is India’s leading Buying Club for SMEs. The company provides a platform to obtain the best pricing for SME’s procurement needs, door-step delivery to SMEs, online tracking of orders and flexible payment options. power2sme is a trusted business partner that functions as a buyer’s club for SMEs and help them to benefit from the economies of scale through collective buying from a large network of vendors and manufacturers. power2sme has SME clients with turnover ranging from Rs 10 crore to Rs 250 crore and works with quality suppliers which include IOCL, Haldia Petrochemicals, GAIL and Sree Cements amongst several others. The company started with Rs 2 crore seed funding and received INR 10 crore commitment from Inventus Capital. For more information, visit http://www.power2sme.com/.

Inventus Capital Partners

Inventus Capital Partners is a US-India venture firm managed by successful entrepreneurs and industry operating veterans who have guided and financed over 100 entrepreneurs with operations in India and/or Silicon Valley. Inventus backs entrepreneurs first and foremost. The companies financed by the Inventus managers over their careers have achieved nearly three dozen successful IPOs or mergers, to date, resulting in the creation of over $30 billion in aggregate wealth and market value for the company founders and shareholders. Inventus Fund-I has so far invested in 18 companies, with 2 successful exits already under its belt. More information about Inventus is available at http://www.inventuscap.com/.

Zanskar Advisors Private Limited

Founded in September 2011, Zanskar Advisors is a Mumbai-based boutique investment bank specializing in Venture Capital & Private Equity syndication and M&A advisory, across sectors and deal sizes.
 
 
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