OfBusiness

OfBusiness is a technology-driven platform, headquartered in New Delhi, India. It provides SMEs access to cash flow-based financing for buying raw materials through its NBFC 'Oxyzo Financial Services'. The Company also offers a host of tech services for SMEs including BidAssist for new growth opportunities. It was co-founded by Asish Mohapatra, Ruchi Kalra, Vasant Sridhar, Bhuvan Gupta and Nitin Jain, in 2015.

The company addresses the common challenges faced by SMEs in India. Their services include raw material procurement, supply chain financing, and SME financing.

In its initial years, from 2016 to 2017, it started by offering solutions to SMEs, with its concentration entirely on optimising costs and improving operations using technology-based services.

Throughout 2020 and 2021, it continued to nurture its technology-driven platform and scale its customer base. With services encompassing supply chain financing, working capital solutions, vendor financing, and risk management services for SMEs.

However, the startup majorly earned its revenue from traded goods sales, logistics charges, and technical support services.

The company has managed to secure financial backing from prominent investors like Norwest Venture Partners, InnoVen Capital, Creation Investments, Kotak Mahindra Bank, and Zodius Capital.