Tradologie clocks GMV of Rs 657 crore, plans to expand portfolio to 16 commodities

New Delhi [India], Oct 31 (ANI): Tradologie, a business-to-business (B2B) marketplace offering global procurement solutions for commodities trade, said on Thursday it achieved gross merchandise volume (GMV) of Rs 657 crore since inception four years ago.
The platform enables real-time price discovery for six segments including agri-commodities, metal, coal, raw material and construction procurement.
With 40,000 buyers and 5,000 suppliers, Tradologie is planning to expand its portfolio to 16 basic commodity products of mass consumption. "We reach out to help buyers at the very beginning of their buying process and continue to engage buyers till the end of their buying process," said Chairman J K Arora.
"It is a buyer's world and Tradologie brings the entire bulk commodity market on buyer's fingertips through its app-based technology, providing an apple-to-apple cross-border comparison," he said in a statement.
Besides India, the company has a presence in Africa, southeast Asia and Middle East with plans to expand its footprint across east Asia, Australia, Europe, north and south America.
The global commodity trade market is expected to be worth 20 to 25 trillion dollars a year. Growing at a compound annual growth rate of 50 per cent year-on-year, Tradologie is expected to facilitate trade worth 90 million dollars (about Rs 636 crore) in the current financial year.
Arora said the platform brings together buyers and sellers on the same real-time price discovery and negotiation mechanism through an online reverse bidding system.
"On the other hand, we try and address requirements of sellers at enquiry stage itself, and work on globally-accepted pre-inspection mechanism and globally-acceptable payment methodology."
(ANI)