Bangalore: Power2Sme, a Gurgaon based online platform which simplifies procuring procedures for SMEs has raised an undisclosed amount from Accel Partners, reports Dealcurry. With this funding the company plans to expand its operations by bringing in more manufactures on board.

Having started operations in January 2012, Power2sme mission is to increase profits for the Indian SMEs. As The Buying Club for Indian SMEs, they focus on reducing their purchase prices and increasing productivity. They provide a platform that enables the SMEs to cut costs and build efficiencies in their business processes, thus allowing them to compete on an equal footing with large enterprises.

The company’s current focus is on servicing industries such as construction, manufacturing, precision engineering, automotive OEM and it plans to expand its services to various other sectors over the coming months. Power2sme is focused on working with established and trusted suppliers, so their SME customers are assured of the quality of the product that they buy from them.

With this swift growth, R. Narayan, Founder and CEO of Power2SME, has predicted that his business would be worth 150 Crore in the next year and he also says there is a good possibility of Power2SME being a billion dollar business in the next 5 years.

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