Business-to-business (B2B) platform OfBusiness has raised $110 million in funding led by Falcon Edge Capital. This round of funding also saw the participation of existing investors Creation Investments, Matrix Partners India, and Norwest Venture Partners. It also saw sales of stock worth $13 million from 12 angel investors and 73 employees.
The start-up is also planning to invest heavily in expanding its tech-based offerings to the B2B ecosystem. They are also planning investments and acquisitions to penetrate deeper into existing supply chains and consolidate OfBusiness’s dominance across them. The platform allows businesses to add value to their customers through a full-stack solution that will be tech-based. The focus of the brand is on raw material fulfillment, working capital financing, and growth opportunities.
While the platform provides cost-effective procurement of raw materials to businesses, it is the financing platform of the B2B platform named “Oxyzo” that provides cash flow-matched financing to aid commerce with a book of $200 million at a pre-tax return on assets of 5 percent. The company has also built a strong tech-based infrastructure that drives scale and with its marketing platform, named “Bid Assist”, the platform now touches over 2.1 million individual users.