What MatexNet Pvt Ltd. does

MatexNet Pvt Ltd (legally Matex Technologies Private Limited), incorporated in 1995 in Tamil Nadu, operates matexnet.com, which it describes as India's first and largest B2B private e-commerce auction portal. The platform runs proprietary, in-house developed auction software supporting forward auctions, reverse auctions, online closed bids, and automated bidding, with features such as multi-auction engines, KYC-based participant screening, and an auto-bid system. Its ecosystem also includes the Matex Motors B2B marketplace for used vehicles, the ProcTek procurement solution, and ancillary modules including an Electronic Dealer Management System (e-DMS) for channel partner management, Smart Pay wallet for EMD handling, valuation services, tender management, and a logistics reverse-auction platform.

Matex generates revenue through three primary streams: annual membership fees for premium buyer/seller access, transaction-based fees on auction participation, and handling charges on earnest money deposits (EMD) processed via Smart Pay. The company employs over 120 people (per company self-disclosure) and operates from a Chennai head office with eight branch offices and residential representatives across India, executing both enterprise field sales to large corporates, PSUs, and government bodies and self-service portal access. Named enterprise customers span large Indian conglomerates (Aditya Birla, Murugappa, Vedanta, L&T), PSUs (CONCOR, NMDC, BEL), financial institutions (HDFC Bank), and global majors (ABB). The platform reportedly transacts over Rs 700 crore in Gross Transaction Value annually.

The business model is bootstrapped: no venture capital, private equity, or institutional investor involvement is disclosed, and the company has remained privately held since founding. Forward auction activity remains live across categories spanning ferrous/non-ferrous scrap, machinery, vehicles, e-waste, hazardous materials, transport contracts, and civil works, indicating an actively operating marketplace with diversified category exposure.

Name

MatexNet Pvt Ltd.

Legal name

Matex Technologies Private Limited

Website

https://matexnet.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

501–1,000 employees

Short description

MatexNet operates India's first and largest B2B private online auction portal, enabling large enterprises, PSUs, government bodies, and financial institutions to dispose surplus inventory and procure assets through forward and reverse auctions, with Rs 700+ crore in annual GTV.

Ownership category

akta.pro rank

Product category

B2B Online Auction Marketplace

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

Auction & Primary Issuance Platforms (IPO/Follow-on/Bond Auctions) (FSAFANAI)

Keywords

• B2B online auctions
• Industrial asset disposal
• E-procurement services
• Surplus inventory marketplace
• Reverse auction platform

Headquarters

HQ city

Bangalore

HQ country

India

HQ region

Asia

Offices10 records

Markets served

GTM type

B2B

Offering type

Digital Commerce or Content

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Annual Membership Fees: Paid membership provides access to auction catalogues, bid participation, email/phone alerts for auctions in user's geography, and analytics reports. Valid for one year from registration.
2. Auction Transaction Fees: Fees charged for auction participation including Smart Pay usage charges for wallet services, balance top-up, handling charges. Non-refundable charges applied per number of lots selected.
3. EMD Handling: Earnest Money Deposit collection from bidders for participation in specific auction lots.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

MatexNet operates a B2B online auction marketplace where corporations, public sector undertakings, government bodies, and financial institutions dispose of surplus inventory, plant and machinery, industrial by-products, vehicles, and repossessed assets through forward and reverse auctions. The platform also delivers e-procurement and tender management services, supported by proprietary in-house auction software, an e-DMS module, and a Smart Pay EMD wallet.

Product overview

MatexNet operates as a multi-platform marketplace with a core auction portal (Matexnet.com) complemented by specialized verticals for vehicles (Matex Motors) and procurement (ProcTek). The company offers proprietary auction software solutions including Multi-Auction Engines for forward/reverse auctions and e-DMS for channel partner management. Supporting services include logistics platform, tender management, valuation services for assets, and Smart Pay for payment management. The three distinct service verticals cover Industrial, Automobile, and Transport sectors, with annual transactions exceeding Rs 700 crore.

Differentiator

Problem solved

Functional benefit

Brands

• Matex Motors: B2B online marketplace for buying and selling used/repossessed vehicles. Operates at matexmotors.com
• ProcTek

Products and services

• Matexnet.com Auction Portal Core B2B online auction marketplace where corporations, PSUs, government bodies, and financial institutions dispose of surplus inventory, residual assets, machinery, industrial by-products, and non-performing assets via forward and reverse auctions; the platform supports KYC-screened buyers and sellers and handles live, upcoming, and procurement auctions.
• Matex Motors Dedicated B2B virtual marketplace, accessed via matexmotors.com, for buying and selling used and repossessed vehicles among corporate sellers, dealers, and institutional buyers.
• ProcTek Streamlined B2B e-procurement solution, accessed via proctek.in, that helps enterprises manage their procurement requirements through online reverse auctions and tender processes.
• Multi-Auction Engines Proprietary client-specific software solutions that host customized forward and reverse auctions and facilitate receipt of online closed bids, designed after extensive study of client business processes and offered to enterprise and PSU clients.
• Electronic Dealer Management System (e-DMS) Customizable proprietary software for organizations with large channel-partner networks across wide geographies, helping monitor order status and regulate production across distributors and dealers.
• Valuation Services Asset valuation services for plant and machinery, equipment, surplus inventory, and real estate, delivered by a panel of skilled professionals for objective and accurate evaluations prior to auction listing.
• Logistics Platform (Transport Contract Auctions) E-procurement of logistics services and transport contracts through online reverse auctions, enabling corporates to procure ocean freight, surface transport, packing, civil works, and related services competitively.
• Tender Management Services End-to-end management of tender processes for client organizations, facilitating competitive bidding and procurement of various services and goods through the MatexNet platform.

Quantifiable outcome

• Transacts over Rs 700 crore annually
• +2 more outcomes

Named customers9 records

Segments7 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• GovDeals: Online auction platform for government agencies, schools, and businesses to sell surplus assets; a strong functional analog for MatexNet's government and PSU-facing disposition business.
• mjunction services limited: India's largest B2B e-commerce and e-auction platform (joint venture between Tata Steel and SAIL) that runs forward and reverse auctions for steel, coal, scrap, minerals and other industrial commodities — the most direct India-based competitor to MatexNet's industrial surplus auction model.
• B-Stock Solutions: US-based B2B online auction marketplace for liquidation and bulk-buy inventory from retailers and manufacturers; directly comparable marketplace model with similar buyer registration, vetting and bidding mechanics.
• MSTC Limited: Government of India undertaking operating e-auction platforms for scrap, coal, minerals, vehicles and other government-held assets; closely comparable in asset classes and auction mechanisms to MatexNet, though government-owned.

Broad incumbents

• IndiaMART InterMESH: India's largest B2B marketplace for buyers and suppliers across industrial categories; not an auction platform but competes for enterprise seller relationships and procurement-related seller discovery that overlap with MatexNet's addressable use cases.
• Ritchie Bros. Auctioneers: Global leader in heavy equipment, truck and industrial asset auctions (now part of IAA/RBAuction ecosystem); comparable auction-mechanism specialist with much broader asset-class and geographic scale than MatexNet.
• Liquidity Services: US-listed (LQDT) operator of industrial surplus and capital-asset marketplaces including GovDeals, Liquibox, and GoIndustry Dovebid; the closest large-scale global comparable to MatexNet's B2B industrial auction model.

Regional players

• Troostwijk Auctioneers: Leading European online industrial auctioneer for machinery, equipment, vehicles, stock and business assets; closely comparable business model and asset categories, but primarily serves European markets rather than India.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/matexnet-pvt-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MatexNet Pvt Ltd.