Bizongo
Overview
Bizongo is an AI-powered platform specializing in vendor digitization, procurement, and supply chain financing solutions. Founded in 2015 by Aniket Deb, Sachin Agrawal, and Ankit Tomar, the company is based in Mumbai, India. Bizongo provides services including digital vendor management, material procurement management, and packaging sourcing. The firm has successfully raised over $257 million from investors such as Accel, B Capital, and Chiratae Ventures, as of April 2025.
Recent Developments
- July 2025: Bizongo has been under scrutiny with allegations of misappropriation of funds brought forward by invoice marketplace TradeCred. While Bizongo has denied these claims, stating comprehensive compliance and repayment of over ₹184 crore to TradeCred, the investigation relates to their now-defunct supply chain financing vertical. Source
- March 2025: Prahlad Krishnamurthi was promoted to CEO, with the company raising $4.5 million in a funding round towards scaling operations and profitability. Notably, Bizongo consolidated its business units under a single structure, with significant leadership reshuffles. Source
- January 2025: Bizongo initiated investigations into financial discrepancies from FY24, identified post an audit that flagged potential fraud. The investigation led to organizational restructuring to enhance compliance and governance standards. Source
- October 2024: Plans were announced for splitting Bizongo into vehicle verticals for focused strategic growth but were later reconsolidated under a single business model by March 2025.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2015 |
| Headquarters | Mumbai, Maharashtra, India |
| Founders | Aniket Deb, Sachin Agrawal, Ankit Tomar |
| Revenue | $23.1M (as of March 31, 2023) |
| Key Investors | Accel, B Capital, IFC, International Finance Corporation |
| Industry | B2B E-commerce, Supply Chain |
| Number of Employees | 104 (as of April 2025) |
Early History
Bizongo was founded in 2015 by three IIT alumni, Aniket Deb, Sachin Agrawal, and Ankit Tomar, with the vision of streamlining the complex ecosystem of B2B customized goods. Initially, the company focused on packaging procurement, leveraging a digital platform to cater to sectors such as textiles and apparel. The company quickly gained traction due to its innovative approach in automating supply chain processes and rapidly expanded its service offerings to include vendor management and supply chain financing. Key milestones in its early journey included successful fundraises and the development of a robust digital platform that attracted numerous enterprise clients.
Company Profile and Achievements
Bizongo has carved a niche as a leading growth-enablement platform by digitizing the vendor ecosystem for brands and enterprises across India. Its service offerings include:
- Vendor Digitization & Management: Integrates digital solutions to streamline supply chain management.
- Supply Chain Financing: Facilitates financial operations by connecting businesses with a network of financial institutions.
- Raw Material Procurement: Focuses on bulk raw material procurement through BizongoBuy, providing efficient and cost-effective sourcing for industries like steel and aluminum.
- Strategic Partnerships: The company has fostered strategic relationships with a diverse network of over 1,500 manufacturers, clients, and financial institutions, significantly enhancing its market reach.
- Recent Strategic Initiatives: The company has expanded into three verticals aiming to offer a comprehensive solution suite for SMEs, contributing to its recognition among emerging unicorns.
Current Operations and Market Position
Currently, Bizongo operates at the intersection of technology and supply chain management, leveraging AI to enhance operational efficiencies across the B2B sector. Its efforts to digitize and automate supply chains have increased market penetration into key industries such as packaging, textiles, and other manufacturing sectors. With a valuation close to $980 million as of early 2025, Bizongo is positioned among emerging unicorns in India and is continually enhancing its service offerings to maintain competitive advantages in the B2B e-commerce and supply chain ecosystem. Key investments and strategic expansions, such as BizongoFin and BizongoBuy, have highlighted their focus on scalable growth and operational profitability.
Conclusion
Bizongo continues to be a pivotal player in the B2B e-commerce and supply chain management industry. With its commitment to innovation and strategic leadership, the company is poised for continued growth and expansion into global markets. Despite recent challenges concerning financial allegations, Bizongo's operational and financial restructuring aims to stabilize its market position, ensuring ongoing compliance and transparency in its business strategies. With a clear focus on technology-driven solutions, Bizongo remains a key participant in digitizing Indian enterprise ecosystems, aiming for long-term sustainability and transformative impact in the B2B sector.