Bengaluru, May 28 (IANS) Industrial goods and office supplies e-portal Tolexo announced on Thursday it had tied up with online payment service platform Paytm for quicker transaction processes.

“Our tie-up with Paytm wallet will enable us to offer 10 million products across 10,000 categories by this year-end through larger marketing and expansion strategy,” Tolexo founder and chief executive Brijesh Agarwal said in a statement here.

The technology partnership with Paytm will offer Tolexo customers seamless access to products, efficient processing and easy transaction for their early delivery, he said.

“As mostly businessmen or professionals make business or industrial purchases on our website due to their hectic schedules, check-out processes are minimal and hassle-free, as evident from our large customer base,” Agarwal said.

Launched in August in 2014 by IndiaMart promoters, Tolexo handles thousands of orders daily for hard-selling office and industry goods and has 5 lakh stock keeping units.

“We are upbeat on partnering with Tolexo, which is playing a key role in the country’s e-tail space by building on a B2B empire,” Paytm vice-president Amit Lakhotia said in the statement.

Tolexo has set an ambitious target of achieving $1 billion gross merchandise value (GMV) by 2017 and $10 billion worth transactions by 2020.

The company’s online platform has marquee industrial customers such as L&T, Lanco, Taj Group, Ashok Leyland, HUL, P&G and Reliance Industries.

As consumer brand of mobile internet company One97 Communications, Paytm handles 60 million orders of digital and physical goods every month.