Tradologie, a business-to-business (B2B) marketplace offering global procurement solutions for commodities trade, said on Thursday it will expand global footprint with offices in Cairo and Istanbul which are expected to become operational by February next year.
The platform enables real-time price discovery for six segments including agri-commodities, metal, coal, raw material and construction procurement.
With 40,000 buyers and 5,000 suppliers, Tradologie is planning to expand its portfolio to 16 basic commodity products of mass consumption.
"Opening up offices in Cairo and Istanbul are natural steps to expand and offer the procurement solution platform to a larger audience," said Chairman J K Arora.
The current total trade of the agri and construction sector in the Gulf and North Africa region is pegged at 200 billion dollars.
"Tradologie plans to capture five per cent market share in the next three years. We see a quick prevalence of technology adoption in businesses, which aids in reducing the cost of trade and improves profitability of all stakeholders," said Arora.
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