NimbleS2P Secures Rs 4 Crore in Pre-Series A Round led by Inflection Point Ventures
– NimbleS2P supports the Digital India and Atmanirbhar Bharat scheme, empowering MSMEs to digitally grow their businesses.
– NimbleS2P was a 2021 finalist for the National Start-Up Awards, recognizing its contribution to the industry.
– The raised funds will drive NimbleS2P’s sales, marketing, partner relations, and product development.
– With over INR 550 Cr invested across 140+ deals, Inflection Point Ventures (IPV) is a key contributor to India’s startup ecosystem.
21st, February, 2023, Mumbai: NimbleS2P has secured Rs 4 crore in a Pre-Series A funding round led by Inflection Point Ventures (IPV) along with other micro-venture catalysts and angel investors. The funds will be utilized to develop sales, marketing, and partner relations, as well as for product development.
NimbleS2P is a SaaS platform that streamlines complex workflows related to finance, accounting, and procurement by providing cost-effective digitization of business processes for manufacturing and real estate businesses. Its platform modules include supplier management, PO and invoice processing, and contract management. The company already caters to 15+ customers, including notable names such as DLF, Jindal Steel & Power, and Oberoi Realty, among others.
Ankur Mittal, Co-Founder, Inflection Point Ventures, says, “MSMEs are the backbone of the economy as they contribute nearly 30% to the GDP. However, critical sectors like manufacturing, power and infra have remained largely untouched from digital transformation owing to lack of tailormade platforms for them. NimbleS2P allows them to leverage their product to make an efficient and structural model and organise their workflow. This market is huge (both in India and internationally) with visible benefits (both cost and time) to the clients at an early stage that should support stickiness and adoption. The founders have deep experience in the space and can build a scalable and profitable business. This encouraged us to make an investment in the company.”
NimbleS2P is a SaaS platform that helps buyers automate manual activities and streamline processes, leading to a 50-70% reduction in processing time. The platform is also inclusive, allowing small and medium-sized enterprises (MSMEs) to register and transact with large buyers, promoting better governance through its “know your supplier” process. NimbleS2P also supports the Digital India and Atma Nirbhar Bharat schemes by strengthening MSMEs and enabling their growth and expansion.
In addition to these benefits, NimbleS2P generates significant cost savings of over 60% in source-to-pay for enterprises. By creating a trusted supplier ecosystem, the platform unleashes network effects within weeks, enhancing its value to customers.
Chandresh Sharma, CEO, NimbleS2P, says, “Our vision is to revolutionize supplier-buyer interaction through a fully-automated platform. In the next 2 to 3 years, we aim to establish a strong foundation and attract over 200,000 users, expanding our growth story from India to the Middle East, and South-Asia. In fact, we are confident that our partnership with IPV will be instrumental in driving significant value for our stakeholders and help us create a connected, automated, and well-networked supply chain.”
The global supply chain market is expected to reach $13 billion by 2032, growing at a steady rate of 7% CAGR from its current estimated size of $6 billion. In India, the market is worth over $750 million, while the Southeast Asia and Middle East regions have a direct potential of over $2 billion, making it a lucrative opportunity for businesses. NimbleS2P is working towards becoming the “Most Preferred Supplier Portal” globally and has already gained traction with partners in the Middle East, as well as closing deals in Africa and South Asia.