OfBusiness

OfBusiness is a New Delhi-based, integrated B2B commerce and fintech platform, originally founded in 2015. It began by helping SMEs source raw materials—like steel, chemicals, apparel, and agricultural supplies—and soon added tailored financing solutions to close critical working capital gaps.The company now also exports to about 15 countries.As of its 2024 Series G round, OfBusiness achieved a $2.8 billion valuation, backed by investors such as SoftBank Vision Fund II, Tiger Global, and Alpha Wave Global. The firm made around $2.3 billion in revenue with $72.6 million profit in FY24, and continues to scale profitability.

Core Products & Services

• B2B Commerce Platform:  OfBusiness lets SMEs procure industrial goods—metals, chemicals, agri-products, apparel either from their own factories or trusted partners, often at volume discounts and faster delivery.

• Procurement Finance via Oxyzo: With Oxyzo, their NBFC arm, businesses get collateral-free loans for raw material purchases. 

• AI Platforms BidAssist : BidAssist crawls millions of government tenders to help SMEs identify bids. Nexizo.AI offers real-time market intelligence on commodities and material pricing. 

• Logistics & Delivery Network: A robust logistics engine moves raw materials across India and beyond. Close to 7 million tonnes are delivered annually, tracked via AI-powered real-time systems.

• Private Label & Contract Manufacturing: OfBusiness has ventured into manufacturing its own materials, accounting for ~27% of revenue. 

Business Model & Revenue Streams

• Raw Material Sales: They earn margins by aggregating demand and supplying materials directly to SMEs, thereby creating efficiencies that are partially passed back to buyers.

• Credit & Lending Fees from Oxyzo: Oxyzo earns interest income and processing fees on structured working capital loans tailored to SME needs, with impressively low NPAs (<0.5%).

• Private Label Manufacturing Margin: By producing its own raw material lines, OfBusiness captures higher margins and enhances customer loyalty.

• Logistics Services: Managing end-to-end delivery through its network, OfBusiness monetizes logistics reliability while also enabling data control and efficiency.

• Data & SaaS Tools: Tools like BidAssist and Nexizo.AI not only attract 2+ million SMEs but also drive upsell flows into financing and procurement business.