Tradologie - easing global diverse commodity trade with technology
A 4-year-old start-up is today the World’s first and only B2B marketplace offering global end to end procurement solution from ‘enquiry to delivery’ for ease of doing business in bulk commodities
• Achieved 6.57 billion Gross Merchandise Volume (GMV) with 40K buyers and 5K suppliers
• Enabling globally competitive and real time price discovery through reverse bidding mechanism for Agri-Commodities, Construction Material and Raw Materials
New Delhi, 31 October 2019: Tradologie, a 4-year-old start-up, has emerged as the world’s first and only B2B marketplace offering global procurement solution for global commodities trade. The platform enables competitive and real-time price discovery for Agri - Commodities, Construction Material and Raw Materials and has achieved a gross merchandise volume (GMV) of INR 6.57 billion since start of trade in 2017. Tradologie’s unique business model provides end to end procurement solution from ‘enquiry to delivery’ for ease of doing business. Tradologie today has 40,000 buyers and 5,000 suppliers.
Globally, Tradologie is the only platform that gives a unique advantage to the buyer by bringing sellers from across the world on the same real-time price discovery and negotiation mechanism through an online reverse bidding system providing them an apple to apple comparison in prices of commodities sourced across geographies. Tradologie establishes a direct interface between the actual buyers and sellers to reduce the cost and time and was created after an in-depth cost and time analysis of traditional& tech-based commodity procurement solutions available in the market.
The global commodity trade market is expected to be worth around $20-$25 trillion a year. Growing at CAGR 50 YoY, Tradologie is expected to facilitate trade worth $90 Million in the current financial year.
“Tradologie wants to re-shape the way global bulk commodity trade is being conducted. We have come out with a unique technology-based solution that will lower the trading cycle and ignite price competitiveness, thereby, benefiting the masses across the world. Our innovative and smart solution not only provides the best market prices to our buyers, it also facilitates ease of doing business through use of technology enabled to assure highest quality and satisfaction, widens the supplier base, maintains complete secrecy and ensures safe transactions through secured gateways.” Mr J.K Arora, Chairman, Tradologie explained.
In the era of booming e-commerce and digital classified, Tradologie offers unique solution to bulk commodity buyers that can reshape the way commodity trade is carried out world over. It’s a buyer’s world and Tradologie brings the entire bulk commodity market on buyer’s fingertips through its unique app-based technology providing an apple-to-apple cross border comparison. Tradologie’s back-end team continuously works to facilitate the trade till the time deliveries to the buyer and payment are received by the seller.
Unlike other B2B portals, Tradologie does not sell leads and enquiries obtained from buyers, but helps sellers reach out to Ready-To-Purchase Buyers all across the globe. Through personalized websites, digital footprints along with cataloging and listing features offered by an array of B2B Platforms, Tradologie also helps sellers reach out to 100% verified prospective buyers across the world through digital and on ground marketing efforts.
“While Designing Tradologie, We have put in efforts to understand prospective buyers & sellers and their related human behaviours. 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. We understand how important it is for the buyers to get the required level of support and information throughout the stages of their buying process. Our effort goes in to understand their need, with adequate research, design, evaluate and do a shortlist of suppliers. On the other hand, we try and address all the requirements of the sellers at the enquiry stage itself and work on globally accepted pre-inspection mechanism and globally acceptable payment methodology. This creates a win-win situation for both buyers and sellers,” Mr Arora stated.
Besides India, the company has presence in Africa, South- East Asia and Middle-East and plans to expand footprint across East Asia, Australia, Europe, North and South America.
Tradologie offers services in six commodities segments including Agri - commodities, metal, coal, raw material and construction procurement and is planning to expand its commodity portfolio to 16 basic commodity products of mass consumption to expand its portfolio to cater to a larger segment of the commodity market.