What is OfBusiness?
OfBusiness operates as a technology-driven platform that bridges the gap between raw material suppliers and SME buyers. By integrating a sophisticated procurement engine with a dedicated fintech arm, the company provides essential credit solutions that address the liquidity challenges faced by businesses in the steel, polymer, chemical, and agri-commodity markets. Its business model is designed to streamline supply chain complexities, offering a seamless digital experience that enhances operational efficiency for its clients. As a public company, OfBusiness is uniquely positioned to leverage its scale and data-driven insights to dominate the B2B commerce ecosystem in India and beyond.
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 Bhavish Aggarwal, Prashant Malik, Matrix Partners, Sumesh Menon, and Pranay Chulet
Series B (2016): $11.1M led by Zodius Capital and Matrix Partners
Other Financing Round (2017): $3.9M supported by Kotak Mahindra Bank
Series C (2018): $28.6M featuring Matrix Partners, Creation Investments, Zodius Capital, and Falcon Edge Capital
Series D (2021): $110M backed by Creation Investments, Falcon Edge Capital, Matrix Partners India Advisors, and Norwest Venture Partners
Series E (2021): $160M with participation from Matrix Partners, Falcon Edge Capital, and SoftBank Group Corp
Series F (2021): $207M led by Tiger Global Management
Series G (2021): $325M supported by Tiger Global, SoftBank Vision Fund 2, and Alpha Wave Global
Other Financing Round (2025): $12M featuring Cornerstone Information Ventures
Key Investors in OfBusiness
Creation Investments
Creation Investments Capital Management, LLC specializes in impact-driven private equity and credit portfolios aimed at enhancing financial inclusion in emerging markets.
Falcon Edge Capital
Falcon Edge Capital, LP, is a diversified global alternative asset manager founded in 2012 with offices in New York and London.
Matrix Partners
Matrix Partners is a venture capital firm that invests in software, services, and internet sectors, leveraging decades of experience to support high-growth companies.
What's next for OfBusiness?
With the recent influx of capital, OfBusiness is well-positioned to accelerate its strategic roadmap, focusing on deepening its penetration into the SME sector and enhancing its fintech product suite. The company's transition to a public entity suggests a focus on long-term sustainability and transparency, likely involving further investment in its digital infrastructure and supply chain logistics. As it continues to scale, the firm will likely prioritize the expansion of its credit offerings and the diversification of its material portfolio, aiming to capture a larger share of the fragmented B2B market. Investors will be closely monitoring the company's ability to maintain its growth momentum while navigating the complexities of the public markets.
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