Acquisition · Financial Services

Oxyzo acquires GoldenPi for ₹42.4 Cr to enter retail fixed income market

What they do

Oxyzo is a tech-enabled NBFC that provides SME financing for raw materials and working capital

The company acquired 100% of GoldenPi Technologies via share swap to launch retail bond investments

This move expands Oxyzo beyond core lending into the growing Indian fixed income investment ecosystem

Oxyzo Financial Services received board approval to acquire 100% stake in GoldenPi Technologies and its subsidiary.
The deal value is ₹42.4 Cr ($4.4 Mn) paid through issuance of equity shares via private placement.
Founders Abhijit Roy and Samir Baran Pratihar will receive shares worth ₹15.7 Cr and ₹15.5 Cr respectively.
Existing investor Rainmatter Capital will receive shares worth ₹7.3 Cr as part of the transaction.
Angel investor Utpal Sheth will receive shares worth ₹4 Cr in this share-swap arrangement.
Oxyzo aims to expand beyond its core lending business into the retail wealthtech segment.
The acquisition allows Oxyzo to capture a larger share of India's growing fixed income market.
Oxyzo launched its first credit fund in March 2026 to further diversify its financial services portfolio.

Financial services companies are increasingly building larger investment ecosystems beyond traditional lending models.
Oxyzo entered the fund management space via a subsidiary to offer alternative investment products.
This strategy targets high-net-worth individuals and retail investors seeking diverse fixed income options.

Oxyzo operates as a tech-enabled NBFC arm of OfBusiness focusing on SME financing.
It provides supply chain finance for raw materials machinery and working capital needs.
Oxyzo reported operating revenue of Rs 1,207 crore for FY25 up from Rs 903 crore.
Profit after tax reached Rs 340 crore in FY25 compared to Rs 291 crore in FY24.
As of March 2026 Oxyzo manages an asset under management of Rs 10,700 crore.
GoldenPi is a SEBI-registered Online Bond Platform offering retail access to fixed income investments.
It lists corporate bonds government bonds fixed deposits and non-convertible debentures for investors.
GoldenPi has a user base of over 16 lakh investors with cumulative investments exceeding Rs 6,000 crore.
The platform maintains a zero default record across all listed debt instruments to date.

Oxyzo plans to integrate GoldenPi’s platform to serve retail and HNI investors directly.
The company aims to create a wider investment ecosystem capturing more fixed income market share.

Rainmatter Capital (existing) — Zerodha venture fund that backed GoldenPi prior to this acquisition.
Utpal Hemendra Sheth (existing) — Angel investor who participated in GoldenPi funding rounds.
Sankhya Financial Services (existing) — Investor in GoldenPi Technologies.

Product: SME-focused lending and credit solutions
Customers: Small and medium enterprises that need business credit
How it makes money: It earns interest and fees on secured and unsecured SME loans.
What sets it apart: Uses its lending data and tech stack to underwrite SME credit.
Operations: Provides term loans, working capital loans and collateral-free credit.