Larsen & Toubro Ltd. (L&T) has introduced L&T-SuFin, an integrated e-commerce platform for B2B industrial products and services.
This platform would enable businesses, particularly MSMEs, to digitally and affordably source their manufactured goods across India, the company said.
“There is a critical need to digitize supply chains to improve the overall global competitiveness of Indian industry, especially small and medium-sized enterprises,” said CEO & MD SN Subrahmanyan. “With the launch of L&T-SuFin, we are taking another step on our digital transformation journey and building on our legacy of trust and deep understanding of the ecosystem,” he added.
“We are confident that L&T-SuFin will change the B2B marketplace for industrial products. Making it easily accessible, convenient and transparent, even for customers in and outside of Tier 1 and Tier 2 cities, enabling a level playing field and inclusive growth for all businesses,” he said.
L&T-SuFin offers a wide range of industrial products in over 40 categories as well as financing and logistics support from carefully screened partners. For sellers, it’s an opportunity to expand their markets, the company said. “It will enable businesses by providing them with a complete ecosystem of seller tools, delivery and negotiation on a single platform,” L&T said.
L&T-SuFin will host KYC verified sellers and buyers verified by L&T and guarantee last mile delivery to 15,000+ PIN codes.
The platform will provide MSMEs with working capital from a variety of banks and other financial institutions at attractive interest rates.
It will also provide an online transaction facility for trading products and enabling services with a payment and settlement mechanism that will help traditional businesses compete with their newer digital-native competitors, the company said.
