What is OfBusiness?
Founded in 2015 and headquartered in Gurugram, India, OfBusiness operates a technology-driven platform designed to revolutionize raw material procurement and offer essential credit solutions for SMEs. The company specializes in supplying a diverse range of materials, including steel, polymers, chemicals, and agri-commodities, while also leveraging its fintech arm to provide financial services. Having transitioned to a public company in January 2025 in anticipation of its IPO, OfBusiness has demonstrated a strong commitment to scaling its operations and enhancing its service offerings to the SME segment, positioning itself as a key enabler of industrial and manufacturing growth.
How much funding has OfBusiness raised?
OfBusiness has raised a total of $862.6M across 9 funding rounds:
Series A
$5M
Series B
$11.1M
Other Financing Round
$3.9M
Series C
$28.6M
Multiple Rounds
$802M
Other Financing Round
$12M
Series A (2016): $5M with participation from Matrix Partners, Prashant Malik, Bhavish Aggarwal, Sumesh Menon, and Pranay Chulet
Series B (2016): $11.1M led by Matrix Partners and Zodius Capital
Other Financing Round (2017): $3.9M supported by Kotak Mahindra Bank
Series C (2018): $28.6M featuring Zodius Capital, Creation Investments, Falcon Edge Capital, and Matrix Partners
Series D (2021): $110M backed by Falcon Edge Capital, Matrix Partners India Advisors, Norwest Venture Partners, and Creation Investments
Series E (2021): $160M with participation from Matrix Partners, SoftBank Group, and Falcon Edge Capital
Series F (2021): $207M led by Tiger Global Management
Series G (2021): $325M supported by SoftBank Vision Fund 2, Tiger Global, and Alpha Wave Global
Other Financing Round (2025): $12M featuring Cornerstone Information Ventures
Key Investors in OfBusiness
Matrix Partners
Matrix Partners is a venture capital firm known for investing in various sectors. Their involvement suggests a belief in OfBusiness's growth potential and market strategy.
Zodius Capital
Zodius Capital focuses on high-growth, India-centric businesses in enterprise software, services, and consumer mobile/internet markets, indicating a strategic alignment with OfBusiness's technology-driven approach.
Creation Investments
Creation Investments Capital Management specializes in impact-driven private equity and credit portfolios aimed at enhancing financial inclusion in emerging markets, aligning with OfBusiness's mission to support SMEs.
What's next for OfBusiness?
With substantial capital backing and a strategic focus on the underserved SME market, OfBusiness is well-positioned for continued expansion. The recent major strategic investment signals investor confidence in the company's business model and its potential to capture a larger share of the B2B commerce and fintech landscape. Future endeavors are likely to involve further technological enhancements to its platform, broadening its product and service portfolio, and potentially expanding its geographical reach. The company's transition to a public entity also suggests a strategic move towards greater transparency and access to capital markets for future growth initiatives.
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