Funding · Financial Services
OfBusiness raises ₹200 crore in Series C round
By Startup Enthusiast ·
- Date
- Company
- OfBusiness
- What it does
- B2B commerce and lending platform
- Kind
- Funding
- Amount
- ₹200 Cr
- Stage
- Series C
- Founded
- 2016
- Sector
- Financial Services
What they do
OfBusiness is a B2B platform that provides raw materials procurement, credit, and business opportunities to SMEs
What happened
It raised ₹200 crore in equity from Creation Investments and Falcon Edge, plus debt lines from banks totalling ₹500 crore
Why it matters
The company became profitable at the PAT level in December 2017 and now disburses ₹100 crore monthly to 2,500 customers
The details
- OfBusiness raised ₹200 crore in a Series C funding round.
- The round was led by Creation Investments and Falcon Edge.
- Existing investors Matrix Partners and Zodius Capital also participated.
- The company also secured debt lines from Kotak Mahindra Bank, Tata Capital, RBL Bank, and Northern Arc.
- In total, the company raised ₹500 crore in equity and debt.
- OfBusiness became an NBFC (non-banking financial company) about 18 months before July 2018 and shifted to a pure lending model.
- The new funds will be used to shore up debt and boost the loan book.
The bigger picture
- OfBusiness was already profitable at the PAT level since December 2017.
- It disburses ₹100 crore monthly across 2,500 customers.
- The company serves sectors like metals, plastics, paper, manufacturing, and infrastructure.
About the business
- OfBusiness is a B2B commerce platform for raw materials procurement, revenue opportunities, and credit.
- It operates in categories: metals, chemicals, apparel, and food processing.
- The company has delivered 1 million+ orders and serves 1.5 million+ SMEs.
- It has a PAN India reach across 26 states and serves 70+ countries.
- Its platform BidAssist finds government procurement opportunities from 2,000+ tender sources with 13,000+ daily tenders.
- OfBusiness underwrites loans using SME financial data and proprietary community data.
What happens next
- New funds will be used to shore up debt and boost the loan book.
The deal
- Type
- Series C
Investors
- Creation Investments (lead) — US-based investment firm.
- Falcon Edge (lead)
- Matrix Partners (existing)
- Zodius Capital (existing)
Founders
- Asish Mohapatra, Co-founder & CEO
- Bhuvan Gupta, Co-founder
- Ruchi Kalra, Co-founder
- Srinath Ramakkrushnan, Co-founder
- Nitin Jain, Co-founder
- Chandranshu, Co-founder
About OfBusiness
- Product
- Marketplace platform connecting SMEs to commodities including steel, metals, chemicals, agricultural products, textiles; includes financing and supply chain services
- Customers
- Small and medium enterprises seeking streamlined access to commodities, financing, and logistics
- How it makes money
- B2B marketplace model with commission on transactions and financing services
- What sets it apart
- Diversified vertical portfolio including apparel exports to top global retailers; operates across 75 countries
More on OfBusiness
- OfBusiness reports higher profit despite revenue dip21 September 2026 · Results
- OfBusiness scales manufacturing across metals, chemicals and apparel10 September 2026 · Milestone
- OfBusiness apparel vertical revenue jumps 256% in FY2625 August 2026 · Results
- OfBusiness plans $800m IPO for November 2026 listing5 August 2026 · IPO · $800 million
- OfBusiness exports double, revenue dips 7% in FY2629 July 2026 · Results
- OfBusiness launches AI discovery platform Nexizo for SMEs6 July 2026 · Launch
- Z47 plans $200 million stake sale in OfBusiness10 June 2026 · Stake sale · $200 million
- OfBusiness cofounder Nitin Jain quits for manufacturing venture17 December 2025 · People