Ofbuisness seeking a $2billion IPO

A husband and wife duo, Ruchi Kalra and Asish Mohapatra, has made wonders within the launch of 5 years of their start-up called Ofbusiness. Before jumping on to the valuations let’s know the Ofbuisness.

Who is Ofbusiness?

  • the tech-enabled platform
  • facilitates raw materials procurement for SMEs( Small and Medium enterprises)
  • facilitates credit for SMEs
  • The firm provides access to SMEs cash flow-based financing for buying raw materials through its NBFC ‘Oxyzo Financial Services’

Oxyzo Financial Service

Oxyzo is the NBFC of the Ofbusiness group. It’s a financing platform providing cash flow to match the working capital requirements of the small and medium enterprises in the traditional sector of the economy.

Key Investors

  • Tiger Global
  • Norwest Venture Partner
  • Soft Bank Group
  • Matrix Partner
  • Falcon Edge Capital
  • Creation Investment
  • Zodius

Ofbusiness Initial Public Offering

The market has to be believed the duo is on talking terms with banks to seek $2billion in the initial public offering. This will be the biggest fintech IPO after PAYTM. There could also be Pre-IPO fundraising approximating $400 million.

Further, the firm is expecting a higher valuation than $5billion amid their recent funding in late 2021 coupled with projecting revenue of $6billion by March 2023.

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