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.