4TiGO and Federal Bank to roll out B2B payment platform in India

4TiGO is aimed at optimizing goods transportation by bringing all stakeholders on to a common platform.
The cloud-based technology platform with complementing business services integrates consignors, consignees, fleet owners, transport companies and agencies, enabling them to exchange information, transact and manage their entire business.

However, Nilekani and Accel Partners did not reveal their investments in the startup.

Promising to deliver payment guarantee and fulfilment assurance, 4TiGO partnered with Federal Bank to roll out B2B electronic payment platform, integrated to its core transaction and contract management process. More than that, Federal Bank developed a special credit programme to offer working capital support.

In adittion, the oil marketing company Indian Oil Corporation has also joined the network as a strategic partner, throwing open its 800 plus networked retail outlets to provide complimentary parking, overnight stay, breakdown assistance and others to the participating truckers.

The 4TiGO truck network is currently operational in Karnataka, Tamil Nadu , Andhra Pradesh , Telangana, Kerala and Goa, with plans to spread across India in 12-18 months.