Industrybuying ropes in ex-MakeMyTrip exec as finance controller

20 Sep, 2016

industrybuying2Industrybuying, an online marketplace for industrial goods run by Emtex Engineering Pvt. Ltd, has appointed former MakeMyTrip executive Bharat Arora as its financial controller.

Arora will be responsible for strategy, financial planning and accounting, and corporate affair, the company said in a statement.

"His rich experience and knowledge in finance will help us leverage scalable practice as we continue to create an effective B2B (business to business) e-commerce ecosystem in the country," said Swati Gupta, co-founder and chief executive, Industrybuying.

Arora is a qualified chartered accountant and previously worked with MakeMyTrip as manager finance and KPMG as assistant manager, according to his LinkedIn Profile.

Over the last two months, Industrybuying has been hiring executives for several key positions. In August, it appointed former Gap executive Manvinder Kaur as its vice president, HR (human resources). In the same month, it hired Faisal Ansari, co-founder of B2B marketplace for industrial equipment Omnikart, after it closed operations due to disagreement between its two founders on a growth strategy.

Delhi-based Industrybuying was co-founded by siblings Swati and Rahul Gupta in 2013. Swati is a former Bain & Co. employee and has 14 years of management consulting and private equity advisory experience inl New York and India. Rahul, an alumnus of Columbia University, previously worked as a trader with Lehman Brothers.

The startup raised $1.8 million (Rs 12 crore) in debt financing from venture-debt provider Trifecta Capital in January this year. It is also backed by investors such as SAIF Partners, Kalaari Capital and BEENEXT.

The company claims to have 75,000 business customers from all over the country at present.

Industrybuying competes with Ratan Tata-backed Moglix and Power2SME, which is backed by Kalaari Capital, Accel Partners, and Nandan Nilekani.

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