January 2016, Business
Nandan Nilekani, the Infosys co-founder has stepped in as a strategic investor in Power2SME, an online buying platform for small and medium businesses.
The Gurgaon-based startup uses technology and a unique business model to help small and medium enterprises procure raw material at competitive prices. It also enables financial assistance through its partners like financial institutions.
‘Competitive pricing’ is setting the price of a product or service based on what the competition is charging. In the last three years, Power2SME has worked with about 30,000 small and medium businesses.
“Power2SME has a unique business model that focuses on making small and medium enterprises bankable and profitable,” said Mr. Nilekani in a statement.
Power2SME founder R. Narayan said the firm was working towards creating an ecosystem that addresses challenges for small businesses to procure raw material and get financial assistance.