Bay Supply Resource Center

The Israeli company’s funding round was led by Robinhood and Next Insurance investor Ribbit Capital.

A small distributor with a big appetite for business-to business ecommerce is rolling out its latest digital initiative: a B2B marketplace for the fastener industry.

In one of many signs that B2B marketplaces are becoming part of mainstream ecommerce, collective sales on them grew 130% year over year in 2021 to $56 billion, according to an estimate by Digital Commerce 360.

The road to success in B2B marketplace development can be long one and the journey along the way maybe full of twists and turns and even dead ends. Bay Supply Co. is a prime example of a company dealing with – and overcoming – the challenges of building a lasting B2B marketplace.

With so much money at stake, it’s no surprise that companies are turning to emerging CRM technologies and platforms to help them manage the complex digital sales and marketing opportunities and challenges that go with selling online.

Bay Supply is building a digital payments base and adding on more types of electronic payments, finance options and related tools.

B2B marketplaces are attracting substantial investments and generating high volumes of sales as buyers and sellers flock to them as centers of commerce across multiple industries. But what’s drawing investors to back B2B marketplaces and how are marketplaces using their inflow of funds?

Connected commerce for Bay Supply is all about providing customers with the convenience of transacting business using analog or digital communications to manage credit accounts, digital and analog payments, sales taxes, and data transmissions, says Michael Eichinger, chief operating officer.