B2B online marketplace platform TradeIndia has formally announced its entry into the B2B e-commerce space with the launch of TI Shopping, a state-of-the-art e-commerce platform where customers can buy products directly onsite on the TradeIndia platform. Primarily focused on the FMGC category to start with, the B2B trade and ecommerce player has also partnered with ePayLater, to offer interest-free credit to both buyers and sellers.
The launch of TI Shopping together with ePayLater is an important transformative milestone for the country’s comprehensive B2B commerce ecosystem and is slated to further TradeIndia’s growth and expansion objectives, the company said in a statement.
The TI shopping platform focuses on capitalizing on the B2B Ecommerce market in India as the rapidly burgeoning sector where small and mid sized businesses like kirana stores, hotels & restaurants, offices, etc are targeted online, creating a USD60 billion revenue opportunity.
Commenting on the launch, Sandip Chhettri, CEO, Tradeindia said: “The TI shopping platform will enable buyers and sellers not only to simply the shopping process, but will also offer interest-free credit to both. As India is the largest hub of small businesses and ‘kirana’ stores in the world, such an industrious transition will hold enormous growth potential and expansion opportunities for the overarching industry.”
With this latest move into the B2B space, TradeIndia has on-boarded more than 1000+ sellers and over 4000 SKUs with the aim of connecting a vast number of small businesses to interact and procure directly from manufacturers and suppliers and also help them to gain access to credit.
Enabled on TI Shopping platform, ePayLater offers credit lines of up to INR 25 lakh through a simple and intuitive process which can be completed by buyers anywhere in India within 10-15 mins. TradeIndia Shopping’s crucial collaboration with ePayLater will prove instrumental in readily aiding a network of 600,000+kirana shops spread across 400+ districts in the country to transact via this state-of-the-art platform, the company said. ePayLater has already enabled credit access to over 10% of this comprehensive Kirana network nation’s comprehensive Kirana network and has built an approved credit pool of over Rs 400 cr.
Customers such as Kirana shops will now have the opportunity to purchase products directly on the TI shopping portal with TradeIndia paying on behalf of the procurer and later receiving payment from the buyer within an interest-free duration of 14 days. This will be realized through optimization of advanced AI technology that will help both buyers and sellers locate promising leads and avail credit facility, respectively.