The company has partnered equipment manufacturers and financial institutions, and now operates as a full-fledged e-commerce platform for buying, selling and financing of both used and new construction equipment.
iQuippo has been an instant hit in the construction equipment industry. Transactions of GMV worth Rs.1,500 crore have been transacted on iQuippo platform since June, 2017. Around Rs.65 crore financing has also been provided for purchase of construction and mining equipment through iQuippo platform in November, 2017 alone. Currently, more than 25 categories and types of assets are listed on iQuippo platform; these assets are across industries and sectors like construction, mining, rural, transportation and material handling, etc.
“We are optimistic about the future and are ready for our next phase of growth. As a marketplace, we are providing a wider reach to OEMs and thereby helping them to connect with equipment buyers. The online adoption coupled with iQuippo’s seamless user experience is a big step forward in improving and expanding e-commerce in the equipment industry. We will soon be introducing additional features and services on our platform, making the entire process of buying and selling of construction equipment smooth and efficient,” Mr. Kanoria added.