Tolexo Bets Big On Mobile: Announces Investment Of $2 Mn In Mobile Technology, Launches App For SMEs

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.

Tolexo is a IndiaMART company, it leverages the existing buyer & seller networks and has built the largest collection of 1,000,000+ products in a short span. It has already served customers from more than 900 cities & towns across India.

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