Agri-Fintech Startup Poshn Clocks in Rs 300 Crore in Trading; Becoming the top trader of sugar and oil in Delhi NCR
Founded in 2020 by Shashank Singh and Bhuvnesh Gupta, Poshn is a platform that takes a product-first approach to solving complex problems in B2B agriculture. The company aims to organize the agri supply chain by making wholesale trade seamless. It offers full-stack services for wholesaling goods where wholesale buyers can buy from millers and stockists. It not only provides seamless discovery and transactions for the wholesale agri market, but also assists buyers/sellers with logistics and offers flexible payment solutions. The company is currently operational in Delhi, Haryana, UP, Punjab, Rajasthan, Karnataka and MP.
Currently, wholesale buying and selling happens in silos where a buyer buys from their selected set of agents who in turn have a selected set of sellers. Buyers struggle with price discovery, on-time delivery, product quality and working capital. Correspondingly, the suppliers’ challenges are around demand predictability, timely payment, working capital management and a limited and inelastic distribution network. With very little digitization, the sector faces several challenges in terms of access to credit and robust distribution channels and fragmented supply units that make discovery (price, suppliers, raw materials) complicated. There are often 6-8 intermediaries between the farmer and the retailer, including some who add real value to the product and the trade, but a large number of these intermediaries contribute to the inefficiency of the supply chain.
Poshn, with its AI-powered distribution engine, makes wholesale purchases seamless, giving buyers a one-stop shop to get the best prices from a variety of suppliers and the confidence to ensure safe and hassle-free deliveries. Poshn addresses the challenges facing hundreds and thousands of food processing units and more than two million wholesale buyers. The platform adds a layer of trust by bringing in transparent pricing, quality checks, on-time delivery and offering working capital solutions where needed. By removing working capital constraints for buyers, Poshn helps them acquire more and increase turnover. At the same time, sellers can expand their network and reach more buyers via the Poshn platform, thereby increasing their business.
Support Quote Shashank Singh, Co-Founder, Poshn “The vision behind building Poshn is to have a seamless and efficient procurement platform especially for bulk procurement. The development in the Indian agricultural ecosystem has led to the growth of the agri-commodity market and we are the largest consumer of raw materials and agricultural products . We are very excited about the opportunity and want to be the exchange platform of choice for all wholesale refined staples.”
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