What is OfBusiness?
Founded in 2015 and headquartered in Gurugram, OfBusiness operates at the intersection of industrial procurement and financial services. The company provides a comprehensive digital platform that facilitates the sourcing of essential raw materials—including steel, polymers, and chemicals—while simultaneously offering tailored credit solutions to SMEs. By addressing the dual pain points of supply chain volatility and working capital constraints, OfBusiness has established itself as a critical infrastructure partner for businesses in the manufacturing and infrastructure domains. Its transition to a public company in January 2025 marks a pivotal milestone, reflecting its maturity and readiness to scale its fintech-enabled commerce model on a larger stage.
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, Pranay Chulet, Sumesh Menon, Prashant Malik, and Bhavish Aggarwal
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 Matrix Partners, Falcon Edge Capital, Zodius Capital, and Creation Investments
Series D (2021): $110M backed by Falcon Edge Capital, Creation Investments, Matrix Partners India Advisors, and Norwest Venture Partners
Series E (2021): $160M with participation from Matrix Partners, Falcon Edge Capital, and SoftBank Group
Series F (2021): $207M led by Tiger Global Management
Series G (2021): $325M supported by Alpha Wave Global, SoftBank Vision Fund 2, and Tiger Global
Other Financing Round (2025): $12M featuring Cornerstone Information Ventures
Key Investors in OfBusiness
Matrix Partners
A long-standing venture capital firm that has supported OfBusiness since its early stages, providing consistent backing across multiple funding rounds.
Falcon Edge Capital
A diversified global alternative asset manager that has played a key role in the company's later-stage growth and capital expansion.
Creation Investments
An impact-driven private equity firm focused on financial inclusion, supporting the company's mission to provide credit to underbanked SME populations.
What's next for OfBusiness?
With the recent capital infusion, OfBusiness is well-positioned to accelerate its market penetration and enhance its technological infrastructure. The strategic focus will likely remain on deepening its credit offerings and expanding its procurement network to serve a broader range of industrial clients. As the company navigates its post-IPO phase, the emphasis will shift toward sustainable growth, operational efficiency, and maintaining its competitive edge in the rapidly evolving Indian fintech sector. Investors remain optimistic that the firm's dual-engine model—combining high-volume commerce with high-margin financial services—will continue to deliver significant value as it scales to meet the growing demands of the SME sector.
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