'GST rollout will ease material flow from one state to another'

'GST rollout will ease material flow from one state to another'

 B2B ecommerce portal mSupply.com, which connects customers like builders and infra companies with suppliers like wholesalers and manufacturers, says that once the Goods and Services Tax (GST) is rolled out, material flow from one state to another will be smooth.

“At present, construction materials are supplied within the state, and after the GST rollout, suppliers can provide materials to neighbouring states as well, thus they can get more orders and new businesses,” mSupply.com Chairman Ishwar Subramanian said.

Founded by Ishwar Subramanian and TGC Prasad in 2015, the company started focusing on the B2B market from last year. It raised Series A funding in June 2015, and is in advanced talks to raise another round of funding.

Subramanian says that they never discounted right from the beginning, and because of this, they received orders worth Rs 9 crore in the first quarter of the last calendar year alone, and in the last quarter of 2016, they saw close to Rs 127 crore transactions on its platform.

Based out of 10 locations, it is a technology-driven platform, where customers can raise RFQ (Request for Quotation), get quotes and release PO. “They can also track delivery, and they are the ones who decide on suppliers, products, payment terms and so on,” he said.

mSupply.com, a one-stop-shop for all building materials, interior products and finishes, has been investing a lot in technology. “Close to 70% of our investment goes into technology, and 70% of our customers are repeat ones,” he added.

With 10,000 registered suppliers including large manufacturers and 1,000 customers, the average size of the order is Rs 9 lakh. It also helps with securing credit via supplier network or from banks and NBFCs as per the customer’s need. Also, the company is planning to expand its presence in 20 new locations.

DH Newsletter Privacy Policy Get top news in your inbox daily
GET IT
Comments (+)