Larsen & Toubro (L&T) has launched an integrated e-commerce platform for B2B industrial products and services ‘L&T- SuFin’. L&T-SuFin will enable businesses, especially MSMEs, to source their industrial supplies pan India, digitally and in a cost-efficient manner.
L&T-SuFin has been designed to be a highly secured platform and will host KYC-verified sellers and buyers vetted by L&T and guarantee a last-mile delivery to over 15,000 pin codes, the company claims.
Apart from providing working capital to MSMEs from an array of banks and other financial institutions at attractive interest rates, L&T revealed that platform will also provide an online transaction facility for trading products and enabling services with a payment and settlement mechanism that will aid traditional enterprises to take on their newer digital-native competitors.
S.N. Subrahmanyan, CEO & MD, L&T, said, “As India aspires to become a $5 trillion economy, there lies a critical need to digitalise supply chains to enhance the overall global competitiveness of Indian industries, especially small and medium enterprises. With the launch of L&T-SuFin, we take yet another leap in our digital transformation journey, building on our legacy of trust and deep understanding of the ecosystem.”
L&T believes that the new platform is poised to transform the Indian business landscape, leading to the formalisation of the traditional supply chains and creating a win-win situation for suppliers and buyers.
“We are confident about L&T-SuFin transforming the B2B marketplace for industrial products. Making it easily accessible, convenient, and transparent, even for the customers in and beyond tier-1 and tier-2 cities, thereby enabling a level playing field and inclusive growth for all businesses,” Subrahmanyan further added.