This SaaS platform connects steel producers, distributors, service providers, and consumers, creating a centralized marketplace for the steel industry. The platform streamlines transactions and facilitates collaboration across the steel supply chain.
Funding
$500K 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
Small and medium-sized enterprises (SMEs) in India's steel industry face challenges in sourcing materials at competitive prices due to a fragmented market and limited access to reliable suppliers. These businesses often struggle with inefficient procurement processes, including time-consuming negotiations and manual comparison of offers, leading to increased costs and delays. Securing financing for steel purchases can also be difficult, hindering growth and competitiveness.
Solution
MetalMarket provides a B2B marketplace that connects SMEs with a network of verified steel suppliers, streamlining the procurement process and offering access to a wide range of metal products at competitive prices. The platform enables buyers to submit requests for quotation (RFQs) and receive proposals from multiple suppliers, facilitating price negotiation and efficient comparison of offers. MetalMarket also offers financing solutions, including invoice financing with flexible terms and low interest rates, to help SMEs manage their cash flow and secure the materials they need. The platform's end-to-end procurement solution aims to reduce manual work, improve price transparency, and provide access to financing, empowering SMEs to compete effectively in the steel market.
Target Audience
The primary target audience consists of MSMEs in North India purchasing between 10-100 tons of flat steel products per month, as well as other SMEs involved in manufacturing and construction requiring steel products.
Features
- Access to over 20,000 SKUs of metals with various processing services
- Real-time price and volume updates
- Comprehensive metal processing services including laser/gas cutting, guillotine chopping, and welding
- On-time delivery and quality assurance with certificates available
- 24/7 marketplace support
- AI-powered bot to connect, quote, and close deals
- Invoice financing with flexible terms (up to 185 days) and low interest rates (12-18%)
- Collateral-free financing solutions with credit limits up to 3 Cr
- Cashback rewards for orders exceeding 10 Lakh