Launch · Enterprise Software & IT

OfBusiness launches AI platform Nexizo for SMEs

By Startup Enthusiast · 2 January 2025

What they do

OfBusiness is a tech company that combines manufacturing, financing, and aggregation for SMEs

It launched Nexizo, an AI-powered discovery and procurement platform for larger private-sector SMEs in infrastructure and manufacturing

Nexizo targets Rs 2,000 crore revenue in the current fiscal, while OfBusiness plans a $1 billion IPO in 2025

OfBusiness launched Nexizo, an AI-powered discovery and procurement platform for Indian SMEs.
Nexizo targets larger private-sector SMEs in infrastructure and manufacturing.
The platform offers buyer discovery, raw material price discovery, market insights, sales, logistics, and inventory management.
OfBusiness's earlier platform BidAssist focuses on government tenders and draws low- to mid-sized businesses.
Nexizo aims to generate Rs 2,000 crore in revenue in the current fiscal, transitioning from an insights platform to a full digital store within 24 months.
OfBusiness reported FY24 revenue of Rs 19,296 crore (up from Rs 15,343 crore in FY23) and profit of Rs 603 crore, a 30% increase.
OfBusiness is planning a $1 billion IPO in the second half of 2025, with a valuation target between $6 billion and $9 billion.
The IPO may include a new $200 million issue, and book runners appointed in November 2024 include Axis Capital, Morgan Stanley, JPMorgan, Citigroup, and Bank of America.

Nexizo extends OfBusiness's vertical commerce ecosystem, which combines materials, finance, and software solutions.
BidAssist's AI engine processes millions of procurement data points annually, providing a foundation for Nexizo's capabilities.
OfBusiness has raised about $800 million from investors including SoftBank, Tiger Global, Z47, Creation Investments, Alpha Wave Global, and Norwest Venture Partners.
The IPO would be a major milestone for the company, which has grown rapidly in revenue and profit.

OfBusiness is a multi-dimensional tech company involved in manufacturing, financing, and aggregation for SMEs.
Its vertical commerce ecosystem combines materials, finance, and software solutions.
BidAssist, its earlier platform, processes and tracks millions of procurement data points annually.
OfBusiness's website reports 1 million+ orders delivered, 1.5 million+ SMEs empowered, presence in 26 Indian states, and service to 70+ countries.
The company operates in categories including Metals, Chemicals, Apparel, and Food Processing.
It provides live prices for raw materials such as Aluminium Ingot, Bitumen, and TMT.
BidAssist features 2K+ tender sources, 13K+ daily tenders, 3 lakh+ active tenders, and 4 crore+ tender results.
OfBusiness claims to have touched 1 billion+ lives.

Nexizo aims to generate Rs 2,000 crore in revenue in the current fiscal.
OfBusiness plans a $1 billion IPO in the second half of 2025.
The IPO may include a new $200 million issue.
Book runners appointed include Axis Capital, Morgan Stanley, JPMorgan, Citigroup, and Bank of America.

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