Burket is a B2B marketplace that employs machine learning algorithms to match buyers with products tailored to their specific needs and preferences. This technology enhances procurement efficiency by improving product discovery and increasing purchasing accuracy for businesses.
Funding
$66K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many businesses, especially SMEs in the Philippines, face challenges in efficiently sourcing products and services due to limited access to a wide range of suppliers and difficulties in discovering the best deals. Traditional procurement methods often rely on limited networks and time-consuming manual searches, leading to missed opportunities and increased costs.
Solution
Burket is a B2B marketplace and social network designed to streamline the procurement process for businesses in the Philippines. The platform intelligently matches buyers with relevant products, services, and suppliers using machine learning algorithms, eliminating the clutter of irrelevant options. Burket provides tools to connect with potential clients and partners, automate vendor onboarding, manage transactions, and enhance spend visibility. By connecting businesses, suppliers, and purchasers, Burket aims to level the playing field, allowing businesses of all sizes to discover new markets, negotiate factory or wholesale pricing, and build stronger vendor relationships.
Target Audience
Burket primarily targets small and medium-sized enterprises (SMEs) and other businesses in the Philippines seeking to streamline their procurement processes, expand their supplier networks, and reduce costs.
Features
- Intelligent matching of buyers and suppliers using machine learning
- B2B social network for connecting with industry professionals
- Vendor management system for purchase order creation and invoice processing
- Automated vendor onboarding and compliance processes
- Real-time tracking of procurement activity and budget management
- Request for Quote (RFQ) feature for sourcing specific products and services
- Wholesale marketplace with a wide range of product categories
- Verified suppliers to ensure secure and reliable transactions
- No commission fees on sales transactions