A) Introduction:

OfBusiness (OFB Tech Pvt. Ltd.), founded in 2015 and headquartered in Gurugram, is a tech-enabled B2B commerce and fintech platform catering to small and medium enterprises (SMEs). The company focuses on streamlining raw material procurement and providing working capital financing to SMEs in core sectors such as infrastructure, manufacturing, and construction.

B) Business Model & Core Offerings:

OfBusiness operates through three primary verticals:

1. Raw Material Procurement:
   • Supplies industrial goods like steel, polymers, chemicals, cement, and agri-products to SMEs.
   • Acts as a bulk buyer, sourcing materials directly from manufacturers and delivering to end-users with cost and logistical efficiency.
2. Embedded Financing (via Oxyzo):
   • Offers collateral-free working capital loans to SMEs.
   • Loans are linked to raw material purchases made on the platform.
   • Underwriting is data-driven, based on transaction history and cash flow visibility.
3. SaaS and Tendering Solutions:
   • Operates “BidAssist,” a digital tender discovery and management platform.
   • Helps SMEs identify and apply for government and private tenders.
   • Offers document management, compliance tracking, and analytics tools.

C) Revenue Streams:

OfBusiness earns revenue through multiple sources:

i) Commerce Margin: Adds a markup on materials sourced in bulk and sold to SMEs.

ii) Financing Income: Through Oxyzo, its NBFC arm, it earns interest on working capital loans.

iii) SaaS Fees: Charges subscription or service-based fees for tools like BidAssist.

iv) Manufacturer Commission: Receives commission for facilitating sales from large OEMs and manufacturers.

D) Reach & Clientele:

OfBusiness has a strong presence across Tier I and Tier II cities in India, serving over 1 lakh SMEs with a sharp focus on improving supply chain efficiency. Its key client base spans core sectors such as construction, infrastructure, capital goods, and agriculture.

E) Growth Trajectory:

OfBusiness has shown steady growth across its commerce and financing verticals. Its lending arm, Oxyzo, achieved early profitability and was spun off as a standalone unicorn in 2022. By FY24, the company reportedly surpassed $1.3 billion in annual revenue, maintaining strong profitability. This performance highlights the robustness of its data-driven model and the rising demand for tech-enabled B2B platforms in India’s industrial and infrastructure sectors.

F) Funding & Valuation:

• Backed by marquee investors such as SoftBank Vision Fund, Matrix Partners, Tiger Global, and Norwest Venture Partners.
• Raised over $800 million cumulatively across rounds.
• Last valued at ~$5 billion.

G) IPO & Listing Plans:

• As per media reports, OfBusiness is preparing for a public listing, tentatively aiming for FY26.
• The IPO is expected to unlock value from both the commerce and financing verticals, especially post the successful funding and performance of Oxyzo.

OfBusiness has positioned itself at the intersection of commerce and finance, solving critical supply chain and credit challenges for Indian SMEs. With strong financials, a diversified revenue model, and tech-led operations, it offers a compelling growth story in the B2B fintech space. Its upcoming IPO is poised to be one of the most anticipated listings in the Indian private market ecosystem.