DEAL OF THE FORTNIGHT. Industrybuying raises ₹12 crore in debt bl-premium-article-image

Our Bureau Updated - January 19, 2018 at 06:41 PM.

Reflecting a growing trend among start-ups to raise funds apart from equity, Delhi-based B2B e-commerce player Industrybuying.com has raised ₹12 crore from venture debt provider Trifecta Capital.

Start-ups often use venture debt as an alternate form of finance to extend runway, fund capital expenditure, optimise dilution or finance their working capital needs. The company will use the money to finance working capital and also drive growth in the enterprise arm of Industrybuying – an arrangement between Industrybuying and enterprises where special rates are negotiated for procuring products. Enterprises get access to these special rates through the enterprise portal which is a tailored version specifically created for that enterprise.

Besides providing venture debt, Trifect hopes to be able to leverage its network of investors, including domestic institutions and industrial family offices to help the company faster. Industrybuying raised ₹60 crore in Series B round in August 2015 from Kalaari Capital and existing investor Saif Capital. Other investors include Singapore-based Beenext and private investors.

Published on January 25, 2016 16:32