Noida-based Tolexo an online marketplace for business goods & supplies, has launched a B2B ecommerce app for 47 Mn SMEs. With this, the company has also announced that it is investing over $2 Mn for building the mobile product, framework & technology, to accelerate the development.
To lead this project, the company has hired Gaurav Jain, ex-engineering manager from Snapdeal to build mobile-focus eco-system.
Founded in 2014, Tolexo is an online marketplace for business goods & supplies. It offers consumer shopping experience for the largest collection of products needed by businesses, factories, offices and laboratories.
The platform makes it easier from small to large businesses to buy & sell goods online by providing technology & services that enable selection, payments, customer support & fulfillment – all as an integrated experience.
According to the company, its mobile site used by more than 400,000 businesses every month. Currently, 90% of the traction on its platform comes from small and medium businesses with tractions mainly from Tier 2, 3 & 4 cities.
B2B Ecommerce in India is set to be a $700 Bn opportunity by 2020 as per Walmart report.