One of the India’s largest online listing platforms for Small and Medium businesses Indiamart, has raised INR 150 Crores in Series C funding from Intel, Westbridge and Amadeus Capital. The company is looking to use the funds towards financing small and medium enterprises and payments space. Indiamart, till date has raised close to Rs.65 Crores after its foundation by Dinesh Agarwal and Brijesh Agarwal in 1996.
Indiamart, has been largely focusing around Small and Medium businesses, is now expanding its reach to large businesses as well. The sources said that the Company will use the funds largely to scale up Tolexo, its recently launched B2B online marketplace.
The company is currently backed by Intel Capital with Bennett, Coleman & Co. Ltd as its investors. Indiamart, had recorded revenues of INR 215 crore for the year ending March 2015, is likely to close this year with sales hitting north of Rs.300 crore. The company claims to be cash-positive for over two years now.
The company offers a platform and tools to over 1.4 crore buyers to search from over 2.57 crore products and get connected with over 18 Lakh suppliers. It currently has over 3000 employees located across 55 plus offices in the country.
Congratulations Indiamart !