One of our partners, Agriconnect has been formerly working with Edelweiss Agri Services and Credit where they handled agri AUM worth Rs. 50,000 crores, and also enabled banks to fund around Rs.10,000+ cr. against the commodities stored in Edelweiss warehouse.
Bizongo has helped them aggregate the demand from processors, traders, farmers and FPOs for timely and appropriate trade financing solutions. Agriconnect is super proud of where they have reached with Bizongo’s tech + supply chain financing solutions. They obtained supply chain financing through our NBFC partners, transforming their business in different ways than one.
Impact of Bizongo’s Tech-led Supply Chain Finance
Bizongo's tech-led solutions caught the attention of Agriconnect’s customers, who wanted to use the platform for effective and efficient cash-flow management. Earlier, their customers had to pay within the same credit period as provided by the respective mandis. With Bizongo’s strategic lending partners coming into the picture, ensuring timely payments to AgriConnect, helped extend their clients' credit period by an additional period of 7–30 days. This unblocked their working capital with larger participation in a short harvesting cycle, thereby enhancing their aggregation capabilities in both demand or supply.
A quote from one of their directors on the impact of Bizongo’s digitization,
“All our payment transactions run in AUTO-Mode. All of the invoices are instantly created and Bizongo’s resolution from the client side is super quick, ensuring the highest level of efficiency."
With Bizongo’s tech-led supply chain financing platform, Agriconnect grew from a monthly GVM of ₹15 crores to ₹25 crores in less than a year's time.
There is a lot more to learn about how Agriconnect is scaling their business with Bizongo.
Pick these game-changing insights and more from this interesting video.