● NimbleS2P enables and supports the Digital India and Atmanirbhar Bharat scheme by strengthening MSMEs to expand and grow their business digitally
● NimbleS2P was a finalist for the National Start-Up Awards in 2021
● The funds raised will be utilized for sales, marketing, partner relations, and product development
● Inflection Point Ventures (IPV) has so far invested over INR 550 Cr across 140+ deals
21st, February, 2023, Mumbai: SaaS platform NimbleS2P has raised Rs 4 crore in a Pre-Series A round led by Inflection Point Ventures (IPV). The round also saw participation from other micro-venture catalysts and angel investors. The funds raised will be used for sales, marketing, partner relations, and product development.
NimbleS2P is a solution that aims to automate complex workflows related to finance, accounting, and procurement. The platform is designed to easily integrate and complement large ERP software such as SAP, Oracle, Microsoft Dynamics, and others to deliver cost-effective digitization of business processes for businesses in the manufacturing and real estate sectors. Supplier management, PO and invoice processing, and contract management are among the platform modules. The company currently caters to 15+ customers, including renowned names like 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.”
The SaaS solution streamlines and automates manual activities for buyers, reduces processing time by 50–70%, and enables inclusiveness by allowing small and medium-sized enterprises (MSMEs) to register and transact with large buyers. It also promotes better governance through its “know your supplier” process and supports the Digital India and Atma Nirbhar Bharat schemes by strengthening MSMEs and enabling their growth and expansion.
NimbleS2P creates 60%+ cost savings in source-to-pay for enterprises, and on top of that, it establishes a trusted supplier ecosystem, unleashing network effects within weeks.
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 current global supply chain market size is estimated to be worth over $6 billion, and it is growing at a consistent rate of 7% CAGR, which means that by 2032, it is projected to reach an estimated $13 billion. The direct potential for this market is significant, particularly in India, where it is estimated to be worth over $750 million. Additionally, the Southeast Asia and Middle East regions also have a direct potential of over $2 billion, making it a lucrative opportunity for businesses in these regions. NimbleS2P is working with an aim to emerge as the “Most Preferred Supplier Portal” globally and already has tremendous traction in terms of partners in Middle-East, and closing few deals in Africa, and South Asia.