Invoice Bazaar gets undisclosed investment from ex-Citi CEO
Invoice Bazaar Supply Chain Finance (SCF) platform connects large buyers with SME suppliers which help them to avail early payment on their receivables.
May 09, 2017 / 05:38 PM IST
Invoice Bazaar, a FinTech Supply Chain Finance platform based in the United Arab Emirates on Tuesday announced an investment from Shirish Apte, former CEO and Chairman Asia Pacific of Citigroup.
The amount of investment was not disclosed.
Invoice Bazaar which started a year back in Dubai by IIM-K alumnus Anand Nagaraj has now expanded to India and Singapore, where the start-up is trying to replicate the UAE model. Invoice Bazaar Supply Chain Finance (SCF) platform connects large buyers with SME suppliers which help them to avail early payment on their receivables.
“The business model of Invoice Bazaar is compelling as it complements banks’ offerings rather than trying to compete with banks. The marriage of Banks with FinTech startups in my opinion is the model of the future,” said Apte who also joins the advisory board of Invoice Bazaar as part of his undisclosed investment.