Kolkata, November 2 2016: A first-of-its-kind online marketplace for construction equipment is here. iQuippo.com aims to transform the infrastructure equipment industry and help P2P (peer-to-peer), B2B (business-to-business) and B2C (business-to-consumer) businesses flourish.
The digital marketplace, will allow owners to list their assets and services, negotiate with buyers, close terms of the deal, generate digital contracts/invoices, and get real-time payments. The platform will offer total solutions for all types of construction and mining equipment and will also provide value added services like asset certification, valuation, parking, maintenance, logistics, spare parts and manpower. Sellers can upload asset details and images, and transact with buyers instantly.
iQuippo is sponsored by Srei; a pioneer in infrastructure financing. The Group operates in infrastructure project finance, infrastructure equipment finance, equipment rental, fleet management, equipment auction etc.
The used equipment market in India is pegged at US $2 billion annually. Around 20% of equipment is available for hire. Most of the transactions take place locally through brokers in an opaque manner and the unorganised segment caters to nearly 70% of the rental and used equipment volumes. iQuippo aims to alleviate the information asymmetry, enabling fair price discovery and transparent transactions.
Says Sunil Kanoria, Vice Chairman, Srei Infrastructure Finance: "The real and digital worlds are converging; bringing greater efficiency and lot of new opportunities. Apps are defining almost every aspect of our lives and the way we do business. Keeping up with the trend of digitisation, we are announcing the launch of iQuippo, which will reinvent the way businesses engage and interact with their customers."