Power2SME, an online marketplace for small and medium enterprises engaged in manufacturing, has secured Series E funding of $36 million from existing investors Inventus Capital Partners, Accel, Kalaari Capital and Nandan Nilekani, with participation from its latest investor International Finance Corporation (IFC), the investing arm of the World Bank Group. This funding comes two weeks after the startup raised $10 million as an equity investment from IFC. The company will use the fresh capital for geographical expansion, accelerating product growth and innovation, and further invest in additional sales and marketing resources, and continue evaluating strategic acquisition opportunities. Currently, the e-commerce player has operations in 14 states, and claims to have a registered SME base of 50,000 SMEs. Power2SME claims that it is registering year-on-year growth of 2.6 times. It also said that the startup achieved profitability in November 2016. Power2SME enables SMEs…
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