Kalaari Capital has invested in Power2sme. It has joined hands with the company’s existing investor Inventus Capital Partners in extending the Series a fundraising. The new funds will be used for scaling presence across newer geographies including Mumbai, Pune, Ahmedabad and Chandigarh, hiring talent and increasing the company’s brand visibility.
Having started operations in January 2012, Power2sme mission is to Increase Profits for the Indian SMEs. As The Buying Club for Indian SMEs, they focus on reducing their purchase prices and increasing productivity. They provide a platform that enables the SMEs to cut costs and build efficiencies in their business processes, thus allowing them to compete on an equal footing with large enterprises.
R. Narayan, Founder & CEO, Power2sme said, “We plan to use these funds to further scale our operations, focus on newer products and increase our reach in the Indian market. We are strong believers in the potential of India’s SME market, and the funding will be used to build a strong foundation to cater to SMEs across multiple sectors and geographies.”
“Power2sme is one of India's fastest growing businesses in the B2B space. The high satisfaction level of SMEs as well as suppliers is testimony to the excellent service that the company provides SMEs and also the value seen by the suppliers. We see immense potential in their business model and are highly confident of the capability of the team to execute it well,” said Vani Kola, MD, Kalaari Capital.
