Startups > OfBusiness

OfBusiness

OfBusiness helps Indian SMEs procure raw materials and access credit instantly.

Series F $776M total Founded 2015 India

OfBusiness is a tech-enabled platform that combines raw material procurement and credit/financing for Indian SMEs. The platform serves 700,000+ registered SMEs across 100+ product categories including metals, chemicals, polymers, and building materials. It uniquely integrates commerce with lending through its NBFC 'Oxyzo Financial Services', offering unsecured credit limits up to ₹2 crore without collateral. The company has achieved profitability since inception and generated ₹22,500Cr in annual revenue as of March 2025.

Problem solved

Indian SMEs struggle to access both affordable raw materials and working capital credit simultaneously, as traditional distributors don't lend and banks won't finance procurement.

Target customer

Indian SMEs in manufacturing, construction, and related sectors requiring regular raw material procurement and working capital financing; companies with ₹50 lakh to ₹2 crore procurement needs.

Website LinkedIn Crunchbase

Founders

Asish Mohapatra

CEO

Former venture capitalist at Matrix Partners (2010-2015); co-founder of OfBusiness.

Bhuvan Gupta

Co-Founder & CTO

VP Engineering at Snapdeal, Director of Engineering at Hike; B.Tech from BITS Pilani, MBA from FMS Delhi.

Vasant Sridhar

Co-Founder & CSO

New Business Development lead at ITC Limited; co-founder of Bloodline; B.Tech Chemical Engineering from IIT Madras.

Bhuvan Gupta

Co-Founder

Former VP Engineering at Snapdeal and Director of Engineering at Hike.

Nitin Jain

Co-Founder

Background in financial services and operations.

Ruchi Kalra

Co-Founder

Prior experience in operations and business development.

Srinath Ramakkrushnan

Co-Founder

Background in technology and product development.

Chandranshu Sinha

Co-Founder

Prior experience at McKinsey and other organizations.

Funding history

Series A $5M February 2016 Led by Matrix Partners · Angel investors

Series B $11M January 2017 Led by Zodius Technologies · Previous investors

Series C Unknown June 2018 Led by Creation Investments · Unknown

Series E Unknown July 31, 2021 Led by SoftBank Vision Fund · Unknown

Series F $205M September 30, 2021 Led by SoftBank Vision Fund-II · Unknown

Series G $325M December 20, 2021 Led by Unknown · Unknown

Series G $11.7M April 16, 2025 Led by Cornerstone Ventures · Unknown

Total raised: $776M

Industries

Building Material Financial Services FinTech Infrastructure Lending Manufacturing Procurement

Pricing

Not publicly available. Platform offers competitive pricing through bulk aggregation and flexible repayment options for financing with competitive interest rates. Credit limits up to ₹2 crore offered.

Notable customers

700,000+ registered SMEs; 3,000+ SMEs receiving tailor-made financing solutions. Specific company names not disclosed.

Integrations

Ved AI (procurement AI tool), BidAssist (government and private tender bidding platform), Oxyzo Financial Services (NBFC for lending)

Website

ofbusiness.com/

Competitors

Infra.Market

Focused on infrastructure and construction materials; broader B2B marketplace without integrated lending capabilities.

Zetwerk

Specializes in manufacturing services and sourcing; less focused on raw material procurement and lending integration.

Moglix

Industrial marketplace focused on MRO (maintenance, repair, operations) products; lacks integrated financing arm.

Kojo

SME lending platform without integrated procurement marketplace.

JSW One MSME

Conglomerate-backed marketplace with less specialized focus on raw materials and integrated lending.

Why this matters: OfBusiness is notable for being the first to integrate commerce and lending for Indian SMEs, achieving unicorn status ($5B valuation) by 2021 and profitability since inception. The company has grown to ₹22,500Cr annual revenue as of March 2025, demonstrating strong product-market fit in an underserved segment of the Indian economy.

Best for: Indian manufacturing and construction SMEs that need reliable raw material procurement combined with working capital financing without collateral requirements.

Use cases

Raw Material Procurement Without Upfront Capital

A small steel fabrication unit needs 5 tons of metal alloys monthly but lacks working capital. OfBusiness provides procurement access and finances the purchase through Oxyzo, allowing the unit to buy materials immediately and pay after 45-60 days based on cash flow.

Government Tender Bidding for Small Contractors

A construction SME wants to bid on government infrastructure projects but doesn't have a procurement network or sufficient liquidity. BidAssist identifies relevant tenders, and OfBusiness provides credit to procure materials if the bid is won.

AI-Driven Procurement Optimization

A chemical manufacturing SME uses Ved AI to analyze historical procurement patterns and identify cost savings opportunities across suppliers, reducing material costs by 10-15% while maintaining quality standards.

Alternatives

Infra.Market Better for construction and infrastructure materials; broader marketplace but lacks integrated financing capabilities.

Moglix Stronger in MRO products for manufacturing; more established but without native lending integration.

Traditional Bank + Distributor Model Slower approval processes, requires collateral, and doesn't integrate procurement with financing.

FAQ

What does OfBusiness do? +

OfBusiness is a platform that combines raw material procurement and credit financing for Indian SMEs. It offers access to 100+ product categories (metals, chemicals, polymers, building materials) and unsecured credit up to ₹2 crore through its NBFC 'Oxyzo Financial Services'. The platform also provides AI-driven procurement tools (Ved AI) and government tender bidding assistance (BidAssist).

How much does OfBusiness cost? +

Pricing details are not publicly disclosed. The platform offers competitive pricing through bulk aggregation, flexible repayment options, and competitive interest rates for financing. Credit limits extend up to ₹2 crore. For specific pricing, SMEs must contact OfBusiness directly.

What are alternatives to OfBusiness? +

Infra.Market is a broader B2B marketplace for construction materials. Moglix provides industrial MRO products with strong supplier networks. Zetwerk specializes in manufacturing services. Traditional bank + distributor combinations remain an alternative, though slower and requiring collateral.

Who uses OfBusiness? +

Indian SMEs in manufacturing, construction, chemicals, metals, and related sectors. The platform serves 700,000+ registered SMEs and provides financing to 3,000+ companies. Target customers are small manufacturers needing regular raw material procurement and working capital.

How does OfBusiness compare to Infra.Market? +

OfBusiness uniquely combines procurement with integrated lending through its NBFC; Infra.Market is a broader construction materials marketplace without native financing. OfBusiness focuses on manufacturing raw materials and offers unsecured credit; Infra.Market emphasizes construction materials with third-party financing. OfBusiness has achieved profitability; Infra.Market secured recent funding in November 2025.