Bizongo acquires FactoryPlus to digitise MSME platforms

With this acquisition, Bizongo will offer sources for raw materials to the local manufacturers at low costs. The capital challenges faced by the manufacturers in terms of supply chain and procurement of raw materials, will be addressed by Bizongo which provides embedded financing.

Bizongo aims to link its supply chain with end customers through solutions such as Insta e-waybill, Insta POD, Insta invoicing and many others. 

FactoryPlus is a factory management app for MSME factories and can be used by factory owners and supervisors. It provides a fast and secure platform for factory owners to manage production and inventory on the go with a mobile app and a web dashboard.

FactoryPlus was backed by Better Capital and Titan capital, and will now be under Bizongo as a part of its acquisition. FactoryPlus is a cloud based platform that provides the live status of your factory by digitising its day-to-day operations. It can also be used by supervisors for specific tasks without any need of specialised training.

The app claims to serve across categories such as metals, plastic and paper, which constitute 76% of the raw material demand by MSMEs on the platform. Last month, Bizongo raised Rs 410 crore funding from the Series-E funding by Schroder Adveq, a Zurich-based private equity firm, from existing investors.