B2B Marketplace ProcMart Raises Funding From IndiaMART


June 21, 2016: ProcMart, a Noida-based procurement platform for office products has raised an undisclosed amount on Pre Series A funding from IndiaMART.

Incepted in 2015, ProcMart was founded by  IIM Lucknow alumnus, Anish Popli,Pratik Potnis and Saheel Joshi.  ProcMart is a B2B marketplace connecting buyers and sellers across various categories through an interactive and easy-to-use application. Buyers submit their purchase requirement of office furniture and equipment through the platform.

ProcMart would be investing their funds in creating a comprehensive, user friendly and easily scalable technology.It lays its strong foundation on a quotation centric approach in a market that is predominantly dominated by companies providing standardised prices to the customers, .

Co-founder, Saheel said, “Quotation focused approach provides ProcMart with a potential to cater full stack of buyers i.e. buyers ranging from SME’s to big corporates to MNCs. In an industry where comparison and negotiation forms the heart of sourcing, ProcMart sees itself having set foot in the right direction.”

ProcMart is looking forward for plans of expansion into Tier-1 cities in the coming few months and is working closely with Fintech and logistics companies to offer innovative financing, discounting and logistics solutions in this space.

With operations in NCR and Maharashtra region in a span of 6 months, ProcMart has generated close to 8000+ RFQ’s with 20000+quotations on their web platform. The average number of quotations/RFQ stands close to 2.6 with an average ticket size close to INR 55,000.

It also raised an undisclosed amount in angel funding from IndiaMART founder and CEO Dinesh Agarwal prior to this in January 2016.

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