TradeBridge, an online B2B (Business to Business) platform for the dry fruits trade, is expanding its operations to include more agri-commodities such as spices, grains, cotton, tea, coffee, and sugar, among many others, as it plans to connect a large set of wholesale vendors and buyers throughout the country.
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TradeBridge, founded last year during the lockdown by a commodity firm dealing with almond imports and processing, has already capped a gross merchandise value of ₹ 40 crore, according to Sameer Bhanushali, Founder and CEO of TradeBridge.
Increasing user base
Bhanushali stated that the response to the B2B e-marketplace has been phenomenal in recent months, with TradeBridge already attracting over 12,000 users.
‘Customer onboarding is doubling every six months,’ he said, adding that the digital trading platform has over 6,000 monthly active users. Repeat orders on the platform are 50%, with an average order value of ₹ 85,000, according to Bhanushali.
TradeBridge handles logistics, quality inspections, secure payments, grievance redressal, and credit extension in addition to connecting buyers with traders, processors, and importers.
‘We are introducing technology to improve food traceability and sustainability, as well as insurance to cover all major risks,’ Bhanushali explained.
According to Bhanushali, there is a great opportunity to digitize operational activities in the fragmented agri-commodity markets.
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He stated that TradeBridge, which is self-funded and has invested about a million dollars, intends to raise funds for future expansion plans.