.png)
.png)
Total amount raised
$867M
Latest funding date
2025-04-16
Location
OfBusiness has successfully raised funds through 12 funding rounds, with recent investors including Cornerstone Ventures and Tiger Global Management. The platform specializes in raw material procurement and credit services for SMEs, offering a comprehensive suite of solutions.
Keep reading to explore the intricacies of OfBusiness's fundraising journey and the investors backing this innovative platform.
OfBusiness has raised funding across multiple rounds, backed by a wide range of investors including Cornerstone Ventures, Tiger Global Management, SoftBank Vision Fund, and Alpha Wave Global.
Keep reading to explore OfBusiness's fundraising journey, from its Series A in 2015 to its most recent pre-IPO round in April 2025.
What Is OfBusiness?
OfBusiness (OFB Tech Pvt Ltd), founded in 2015, is one of India's leading technology-enabled B2B commerce platforms. Headquartered in Gurugram, India, the company serves SMEs across sectors including manufacturing, infrastructure, construction, and agriculture by providing access to raw materials—metals, chemicals, agri-products, and apparel—combined with embedded financial services through its fintech arm, Oxyzo. The platform also includes AI-powered tools such as BidAssist (government tender discovery) and Nexizo.AI (real-time commodity pricing). OfBusiness became a unicorn in July 2021 and achieved a $5 billion valuation in December 2021.
How Much Funding Has OfBusiness Raised?
- Series A
- Amount Raised: USD 5,000,000
- Date: February 2016
- Lead Investors: Matrix Partners India (Z47)
- Participants: Bhavish Aggarwal, Kunal Bahl, Rohit Bansal, and angel investors
- Series B
- Amount Raised: USD 11,100,000
- Date: December 2016
- Lead Investors: Zodius Capital
- Participants: Matrix Partners India (Z47), and others
- Series C (First Close)
- Amount Raised: USD 29,200,000
- Date: July 2018
- Lead Investors: Creation Investments, Alpha Wave Global (Falcon Edge)
- Participants: Matrix Partners India (Z47), Zodius Capital
- Conventional Debt
- Amount Raised: USD 3,840,000
- Date: October 2017
- Lead Investors: Kotak Mahindra Bank
- Venture Debt
- Amount Raised: Undisclosed
- Date: 2017
- Lead Investors: InnoVen Capital
- Series D (First Close)
- Amount Raised: USD 34,900,000 (approx. INR 250 crore)
- Date: September 2019
- Lead Investors: Norwest Venture Partners
- Participants: Matrix Partners India (Z47), Alpha Wave Global (Falcon Edge)
- Series D (Second Close)
- Amount Raised: USD 110,000,000
- Date: April 2021
- Lead Investors: Alpha Wave Global (Falcon Edge)
- Participants: Creation Investments, Matrix Partners India (Z47), Norwest Venture Partners
- Series E
- Amount Raised: USD 160,000,000
- Date: July 2021
- Lead Investors: SoftBank Vision Fund 2
- Participants: Alpha Wave Global, Matrix Partners India (Z47)
- Valuation: ~$1.5 billion (Unicorn milestone)
- Series F
- Amount Raised: USD 207,000,000
- Date: September 2021
- Lead Investors: Tiger Global Management
- Participants: SoftBank Vision Fund 2, Alpha Wave Global
- Valuation: ~$3 billion
- Series G
- Amount Raised: USD 325,000,000 (primary) + ~USD 140,000,000 (secondary)
- Date: December 2021
- Lead Investors: Alpha Wave Ventures II, Tiger Global Management, SoftBank Vision Fund 2
- Participants: Norwest Venture Partners, Matrix Partners India, Zodius Capital, Panthera Growth Fund, Marshall Wace
- Valuation: ~$5 billion
- Secondary Market (Zodius Exit)
- Amount Raised: USD 100,000,000–120,000,000
- Date: October 2024
- Lead Investors: Undisclosed buyers (Zodius Capital full exit)
- Series Unknown (Pre-IPO)
- Amount Raised: USD 11,700,000 (approx. INR 100 crore)
- Date: April 16, 2025
- Lead Investors: Cornerstone Ventures
Total Amount Raised: At least $867M based on disclosed funding (CB Insights; some rounds include undisclosed venture debt and secondary market transactions).
Key Investors
- Alpha Wave Global (Falcon Edge)
- Details: A global investment firm active across private equity, credit, and public markets. Has participated in OfBusiness from Series C through Series G, serving as lead investor in multiple rounds.
- Tiger Global Management
- Details: New York-based hedge fund and venture firm. Led OfBusiness's $207M Series F in September 2021 and co-led the $325M Series G in December 2021.
- SoftBank Vision Fund 2
- Details: Arm of Japan's SoftBank Group. Led OfBusiness's Series E in July 2021, which catapulted the company into unicorn status at a $1.5B valuation.
- Norwest Venture Partners
- Details: Silicon Valley-based multi-stage investment firm. Led OfBusiness's Series D1 in September 2019 and participated in Series G.
- Matrix Partners India (Z47)
- Details: Early-stage venture firm. Led OfBusiness's original Series A in 2016 and has remained a long-term backer through multiple rounds.
- Zodius Capital
- Details: India-focused growth-stage investor. Led Series B in December 2016. Exited fully in October 2024 via a secondary share sale, reportedly netting over $100M on an ~$8M initial investment.
- Cornerstone Ventures
- Details: India-focused VC fund. Made its first investment from its second $200M fund into OfBusiness, leading the April 2025 pre-IPO round of INR 100 crore (~$11.7M).
What's Next for OfBusiness?
OfBusiness is gearing up for a potential IPO, with reports suggesting the company is in discussions with bankers for a public listing. As the company continues to scale its B2B commerce and fintech operations, it is focused on expanding its market presence and leveraging technology to drive growth. With a strong base of institutional investors and a proven business model, OfBusiness is well-positioned to capitalize on the growing demand for B2B commerce solutions in India.
Use Clay to Get Funding Data
Sales professionals, leverage Clay's platform to access comprehensive fundraising data. Sign up for free today.
