Poshn on track to cross $1Bn revenue this fiscal

Poshn(poshn.co) said it expects its annual recurring revenue to cross $1 billion in the current fiscal year to further consolidate its position as India’s largest B2B platform for SMEs in agro-commodities and processing value chain.

The wholesale, distribution and financing platform primarily focussed on food and agro said it is investing in technology platform to make supply chains more efficient and monetarily additive to users.

“Over the next four quarters, we will strongly double down on geographical expansion of our categories. We will ramp up the new and increase the penetration in existing supply,” said Shashank Singh, cofounder at Poshn, an agri-fintech. “These factors clubbed with our scalable tech platform coupled and a unique category launch playbook will enable us to achieve the set target for the next year.”

India is an agrarian country with the agriculture sector accounting for about 58% of the population and 14% of the GDP.

Experts said there is a sizable market opportunity for tech-led transformation in a traditionally inefficient sector which has multiple intermediaries, lack of credit, supply chain linkage gaps. “We are making wholesale trade efficient, effective and seamless by digitizing and aggregating the wholesale supply who are SMEs,” added Singh.

Founded in 2020 by Singh and Bhuvnesh Gupta, the Delhi-based firm has raised $3.8 million in its seed funding round led by Prime Venture Partners along with Zephyr Peacock last year. It recently crossed $100Mn annual revenue milestone.

Ref: https://economictimes.indiatimes.com/tech/technology/poshn-expects-its-annual-recurring-revenue-to-cross-1-billion-in-this-fiscal-year/articleshow/99726331.cms

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