Integrated Supply Chain and Finance Platform Start-up ‘Ayekart’ raises $750K in Seed Fund Round and partners for $4M Supply Chain Finance
Mumbai: Ayekart Fintech, an Integrated Supply Chain and Finance Platform start-up has completed their seed funding round of $750K from Marque Angel Investors. Ayekart has partnered for Supply Chain Finance line of $4M as well. The company intends to utilize this capital infusion towards business expansion, bringing in more expertise in thematic verticals and technology enhancement for augmenting the services offered through its tech-powered integrated supply chain and finance platform.
Founded as a boot-strapped start-up in December 2020, Ayekart has created an integrated supply chain and finance platform, addressing the challenges of MSME and retail business that have struggled and which are further aggravated by the spread of pandemic. By strengthening the end-to-end supply chain ecosystem through Technology, Finance and services, Ayekart is empowering the traditional business and providing solutions for multiple problems in one integrated digital platform.
“At Ayekart, our philosophy is to be a friend of MSMEs’ and retail businesses. The platform we created is quite dynamic in nature and continuously evolving as a ‘PHYGITAL’ solution that enables small manufacturers, producers, distributors, wholesalers, small merchants and retailers to access physical as well as digital marketplace for buying and selling of Input, produce Output and VAS, and provide traceability and visibility with easy payment options through Business to Business (B2B), Business to Consumer (B2C) and local physical distribution channels.”, said Debarshi Dutta, Co-Founder and CEO of Ayekart. He further adds that the platform has capabilities like assigning credit limits to buyers, buy now and pay later functionality, variable multi-city pricing, volume-based discounting etc.
“Our customers have put their belief in us because they have seen and experienced that our team has the same DNA, and that we have deeply internalize the intricacies of the work they do every day. Our team has in-depth understanding of MSME / retail business to help MSMEs / Retailers avoid low-value and time-consuming manual work so they can focus on their business. We are here as a support system to empower them for boosting their businesses through effortlessly operating in both physical and digital marketplace and most importantly we provide them solution for managing their tedious administrative operations procurements, expenditure, inventories, billing, tracking, payment collection, attendance and salary payments, etc. and help them becoming more organized”, said Debarshi Dutta.
As a business model, Ayekart offers SaaS which is easily accepted because of a high-quality design and user-friendly interface, which, has turned out to be a standout differentiator for them.
Ayekart’s platform is made to simplify the process and alleviate the apprehension of those reluctant towards the usage of technology or use some basic tools.
Ayekart is operational in 3 states in wholesale business and has a GMV of $1.5M in the last quarter, which indicates the growth of the start-up in a short span of time. Looking into the transactions the prospects of wholesale business is quite promising for Ayekart.
“Our wholesale (B2B) operations are stabilized and growing on a daily basis. We are also gearing up for launching retail operations with some unconventional channels, as well as end sale points in the conventional supply chain. One of our innovative models is Village Level Entrepreneurs (VLEs) wherein we aim to establish a network of VLEs to strengthen livelihood opportunities for the rural youths” said Debarshi Dutta.
Few of our angel investors are mentioned below:
- Satish Grampurohit, CEO Infomap Global and Member of Board, Lead investor
- Ram Chari, Member of Board
- Lokesh Venkatappa, Managing Director with a leading Technology services company
- Paresh Daga, Founder Infomap Global & Managing Partner of a leading Consulting firm
- Sousthav Chakrabarty, Co-Founder & CEO, Siply
- Rohit Vashistha, Vice President and Business Head at a leading Chemicals and Packaging company
- Ramnath Natarajan, Sr. VP and Head Agency and Retail Broking Sales in a leading Non-life Insurance Company
- Rajender Muniganti, SVP, Wells Fargo Bank, Third Party Risk Management
- Praveen Kumar Kalbhavi, Co-founder, MD & CEO - Novigo Solutions Pvt. Ltd
- Vaibhav Pandhari, vice president and head of IT India for a leading financial services firm
- Gopikrishna P Y, Director - Core Retail Services and Emerging Technologies
- Rajiv Sharma, Agri business and Agtech expert