Launches first-of-its-kind digital marketplace for equipment sales and rentals
Kolkata, Oct 27, 2016: The future is here. iQuippo is about to change the equipment sale and rental market through the launch of its digital marketplace, iQuippo.com, which will transform the infrastructure equipment industry and help P2P (peer-to-peer), B2B (business-to-business) and B2C (business-to-consumer) businesses flourish. The US $6 billion infrastructure equipment ecosystem will now be at your fingertips.
The digital marketplace, a first-of-its-kind, 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.
Commenting on the launch of iQuippo.com, Sunil Kanoria,Vice Chairman, Srei Infrastructure Finance Limited, said: “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. This unique initiative will offer total solutions, solving the problems of market access and information asymmetry in the large but fragmented infrastructure equipment market. Srei has been a pioneer in infrastructure financing and development. We will continue to support initiatives that will revolutionise the infrastructure industry.”
iQuippo is sponsored by Srei;apioneer in infrastructure financing.The Group operates in infrastructure project finance, infrastructure equipment finance, equipment rental, fleet management, equipment auction etc.
Devendra Kumar Vyas, CEO – Financial Services, Srei, said: “Total budgetary outlay for infrastructure has been increased by 28%, to Rs 3.4 trillion in the current fiscal; roads, railways and power being the biggest beneficiaries. Of this, Rs 1.29 trillion is on account of budgetary support. Likewise, the infrastructure equipment segment is expected to reach a US$10billion mark by 2020 and in financial year 2016-17 the projected growth is 25% to 30%. This makes the World look at India favourably. Hence, to capitalise on this growth opportunity; iQuippo is a strategic initiative that will aggregate the infrastructure equipment marketplace by digitally empowering the customers’ decision on buying, selling, renting, auctioning etc. Srei, the front-runners in innovations for infrastructure equipment solutions, will now enable life-cycle decisions of such equipment seamless in India and in global destinations.”
The used equipment market in India is pegged at US $2 billionannually. 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.
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