Power2SME, a buying club for small and medium enterprises, is expanding its base in India with new offices in Pune, Mumbai and Ahmedabad. This was announced at a media interaction in Pune by R Narayan, the company's founder and CEO. "The new locations will give Power2SME the opportunity to cater to the demands of SMEs in the west zone with Pune being the regional head office," he said. With three new offices, SMEs in automotive components, plastics and polymers, manufacturing and construction sectors will now get the opportunity to procure quality raw materials at competitive prices.

Having started operations in January 2012, Power2SME's mission is to increase profits for the Indian SMEs. "The company provides a platform to obtain the best pricing for SMEs' procurement needs, door-step delivery and online tracking of orders. With heightened activity in the north zone and having a well-established office in Gurgaon, it made great sense to expand the company further and open up offices in the west zone. Our recent series of funding has enabled us to further scale our operations, focus on newer sectors and increase our reach in the Indian market. We see immense potential in the Pune, Mumbai and Ahmedabad markets for us to expand and empower the growing number of SMEs by increasing their profits and productivity," Narayan added.

As part of the company's expansion plans, it is hiring a pan-India team to cater to demand from multiple regions for multiple product categories. "We are attracting employees from core sectors like steel, metal, paints, etc., and the infusion of talent is helping us to rapidly scale our revenues," he said. According to an earlier news report, Power2SME has received Rs 10 crore commitments from Inventus Capital Partners. The company was started with a seed capital of Rs 2 crore and the recent funding will be used as a booster for rapid expansion in the Indian market. The company's business model aims to empower SMEs by eliminating the need to engage with vendors, provide doorstep delivery of the goods through logistics providers, flexible payment options, placing orders online 24