What OfBusiness does

OfBusiness (legally OFB Tech Limited, incorporated 2015, headquartered in Gurugram, India) operates India's largest B2B raw materials procurement and credit platform, serving over 2 million SMEs and corporates across 26 Indian states and 7 union territories. The platform aggregates raw materials across seven supply chains — steel, aluminium, polymers, chemicals, energy and petroleum, agri, and construction — quoting prices for 500+ commodities and delivering 170,000+ consignments annually, while also exporting to 70+ countries. Named enterprise customers include Adani Group, Indian Oil Corporation, NALCO, NHAI, SAIL, Vizag Steel, and Walmart.

The underlying stack combines a transactional B2B marketplace with 30+ owned manufacturing and processing plants (branded Noblesteels, Grontec, Sangam, Roadgrip, Emox, etc.), embedded working-capital lending through NBFC subsidiary Oxyzo Financial Services (over ₹10,000 crore AUM; gross NPA 0.74%, net NPA 0.30% as of FY26), and a SaaS layer comprising Nexizo AI (natural-language discovery across 500+ raw materials), BidAssist, SMEAssist, and Ved AI. Acquisitions have extended the group into adjacent verticals: SMW Ispat (steel, 2022), Koeleman India (food processing, 2023), Noble Steels (2025), and Indian Design (apparel, December 2025), the last of which lifted the apparel vertical to ~₹3,000 crore in revenue with an 80% export mix to H&M, GAP, IKEA, Zara, and Adidas. In March 2026 Oxyzo launched Oxyzo Credit Fund I, a SEBI-registered Category II AIF, and in May 2026 acquired online bond platform GoldenPi Technologies for ₹42.4 crore, extending into wealth distribution. Co-founders Asish Mohapatra (CEO), Ruchi Kalra, Vasant Sridhar (CSO), and Bhuvan Gupta (CTO) lead the company; co-founder Nitin Jain departed in December 2025.

OfBusiness earns revenue through four streams: (i) transactional markups on B2B raw material sales, (ii) interest and fee income from Oxyzo's working-capital and supply-chain financing book, (iii) product revenue from owned manufacturing and processing, and (iv) recurring SaaS fees from procurement intelligence tools. Pricing on raw materials is quote-based rather than list-based, while credit terms are tailored per SME. The company combines a self-serve digital channel (web and iOS/Android apps) with a dedicated field-sales team serving large enterprise accounts, plus direct export operations. FY26 consolidated revenue stood at ₹20,645 crore (down 7% YoY on rationalization of low-return categories) with net profit of ₹724 crore (up 21% YoY), EBITDA margin of 4.0%, and free cash flow of ₹390 crore. OfBusiness converted to a public limited company in January 2025 and is preparing for an IPO targeting $750M–$1B at a $6–9B valuation, with a four-bank consortium (Axis Capital, Morgan Stanley, JPMorgan, Citi) engaged.

Name

OfBusiness

Legal name

OFB Tech Limited

Website

https://ofbusiness.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

OfBusiness is India's largest B2B raw materials procurement and credit platform, serving over 2 million SMEs and corporates across 26 states with integrated working-capital lending via its NBFC arm Oxyzo and 30+ owned manufacturing plants.

Ownership category

akta.pro rank

Product category

B2B Raw Materials Procurement

NAICS

Other Farm Product Raw Material Merchant Wholesalers (424590), Sales Financing (52222)

SIC

Wholesale-Industrial Machinery & Equipment (5084), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Metals, Plastics & Fabrication Materials Marketplaces (CRAFAHAN)

akta.pro secondary industries

Chemicals, Ingredients & Raw Materials Marketplaces (CRAFAHAK), Trade Finance & Supply Chain Finance Platforms (FSAGAJAL)

Keywords

• B2B procurement marketplace
• Raw materials trading
• SME financing services
• Embedded credit platform
• Industrial commodities supply

Headquarters

HQ city

Gurugram

HQ country

India

HQ region

Asia

Offices16 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. B2B Raw Materials Commerce: OfBusiness operates a B2B procurement marketplace where it earns revenue from markups on raw material sales across categories including steel, aluminium, polymers, chemicals, energy, and agri-products. The company acts as both a supplier and aggregator, enabling buyers to source materials at competitive rates while capturing margin on transactions.
2. Oxyzo Embedded Lending: The NBFC arm Oxyzo Financial Services provides working capital loans, supply chain financing, and credit solutions to SME buyers and suppliers on the OfBusiness platform, generating interest income and fee revenue. Oxyzo has grown to over Rs 10,000 crore in assets under management with strong profitability.
3. Manufacturing & Processing: OfBusiness operates 30+ manufacturing and processing plants across steel, aluminium, energy, chemicals, and agri sectors, generating product revenue from direct manufacturing output. The company produces branded products including Noblesteels, Grontec, Sangam, and others.
4. SaaS & AI Solutions: OfBusiness offers SaaS tools including Nexizo AI, BidAssist, SMEAssist, and Ved AI to SME customers, providing digital procurement and intelligence services as part of its integrated offering.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

OfBusiness operates an integrated B2B commerce and credit platform that procures and supplies industrial raw materials (steel, aluminium, polymers, chemicals, energy, petroleum, agriculture) to Indian SMEs and large enterprises, while providing embedded working capital financing through its NBFC arm Oxyzo Financial Services. The company combines an aggregator marketplace, 30+ owned manufacturing and processing plants, and SaaS/AI procurement tools (Nexizo, BidAssist, SMEAssist, Ved AI) to deliver raw materials and credit in a single workflow.

Product overview

OfBusiness (OFB Tech Ltd) operates as a diversified B2B commerce and fintech platform consisting of three core verticals: raw material procurement marketplace, embedded financing via its NBFC subsidiary Oxyzo Financial Services, and SaaS solutions. The flagship OfBusiness Platform serves as India's largest B2B raw materials marketplace offering 500+ raw materials across Steel, Aluminium, Agriculture, Petroleum, Energy, Polymers, and Chemicals categories to 2 million+ SMEs. The Oxyzo NBFC arm provides working capital financing and has grown into an independent unicorn with ₹11,822 crore in assets under management. The SaaS vertical includes AI-powered discovery platform Nexizo, SMEAssist, BidAssist, and Ved AI tools. The company has expanded through acquisitions including Indian Design (garment/textile manufacturing), GoldenPi Technologies (wealth management), and stakes in steel production companies, with an IPO planned targeting $750 million to $1 billion.

Differentiator

Problem solved

Functional benefit

Brands

• Oxyzo: SME-focused NBFC and financial services arm providing working capital loans, embedded financing, and credit solutions to small and medium enterprises.
• SMEAssist
• Nexizo
• BidAssist

Products and services

• OfBusiness Platform B2B procurement platform that aggregates buyers, suppliers, and channel partners across 500+ raw material SKUs and 7 supply chains, offering real-time prices, news, quotations, and order tracking for SMEs and large enterprises across India.
• Oxyzo Financial Services SME-focused NBFC providing working capital loans, supply chain financing, and embedded credit solutions to SME buyers and suppliers on the OfBusiness platform.
• Nexizo AI AI-powered B2B discovery platform enabling SMEs to search 500+ raw materials using natural language, retrieve price quotes, and access real-time market intelligence for procurement decisions.
• SMEAssist Digital SME support tool providing procurement management, order tracking, and credit access for small and medium manufacturers using the OfBusiness platform.
• BidAssist Bid assistance tool that helps SMEs discover raw material sourcing opportunities and bid on procurement contracts within the OfBusiness platform.
• Ved AI AI-driven intelligence tool for SME B2B commerce and industrial goods procurement, providing procurement assistance within the OfBusiness platform.
• Indian Design Garment and home textile manufacturer serving global fashion brands (H&M, GAP, IKEA, Zara, Adidas, Columbia, Old Navy) with approximately 80% of revenue from exports.
• GoldenPi Technologies SEBI-registered online bond distribution platform enabling retail investors to access corporate bonds, government bonds, and NCDs for wealth management and fixed-income investments.
• Oxyzo Credit Fund I (OCF-I) Category II Alternative Investment Fund launched by Oxyzo to provide secured credit to mid-sized investment-grade companies, representing Oxyzo's entry into fund management.

Quantifiable outcome

• Customers receive raw materials at rates at least 1% lower than existing market rates
• +3 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature5 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Oxyzo Financial Services (Subsidiary)coreOthers · 5 August 2026OfBusiness holds a 67.5% stake in Oxyzo Financial Services, its NBFC arm providing SME lending and embedded credit solutions. Oxyzo achieved unicorn status in 2022 and has grown into a full-fledged SME financing platform with over Rs 10,000 crore in AUM, maintaining healthy asset quality with 0.74% gross NPA. Oxyzo is pursuing diversification including wealth management through GoldenPi acquisition and fund management through Oxyzo Credit Fund I.
• GoldenPi TechnologiesminorStrategic or Co-development Partner · 29 May 2026Oxyzo Financial Services, OfBusiness's lending arm, agreed to acquire online bond distribution platform GoldenPi Technologies for Rs 42.4 crore. The acquisition will give Oxyzo access to GoldenPi's 16 lakh user base and Rs 6,000 crore in cumulative investments, enabling expansion into wealth management and retail fixed income products.
• Koeleman IndiaminorOthers · 11 April 2023OfBusiness agreed to buy 100% of Koeleman India's food processing unit in Karnataka, valued at approximately $10 million, marking OfBusiness's entry into the food processing sector and providing access to export markets.
• SMW IspatminorOthers · 19 May 2022The Competition Commission of India approved OfBusiness's acquisition of a majority stake in SMW Ispat, a steel production and iron ore beneficiary company, in May 2022. This acquisition expanded OfBusiness's footprint in steel manufacturing and raw material trading.

Scale indicators11 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Moglix: India-focused B2B e-commerce platform for industrial supplies and MRO procurement, serving manufacturers with a similar buy-and-finance model that directly overlaps with OfBusiness's core marketplace offering in steel, fasteners, and industrial goods.
• Infra.Market: B2B procurement platform specialising in construction materials (cement, steel, aggregates) with owned manufacturing and embedded credit, directly competing with OfBusiness in the metals and construction supply chains for SME contractors.
• Udaan: India's largest B2B e-commerce platform connecting SMEs with manufacturers and wholesalers across categories including steel, electronics, and staples, operating a marketplace model highly comparable to OfBusiness's buyer-supplier aggregation layer.
• Lendingkart: Tech-enabled NBFC providing working-capital and term loans to Indian SMEs, directly comparable to Oxyzo's lending arm in target customer, product mix, and underwriting approach.

Broad incumbents

• IndiaMART: Established B2B listings marketplace serving Indian SMEs with a much broader category footprint than OfBusiness; comparable as a buyer-discovery layer though it is not vertically integrated into financing or manufacturing.
• KreditBee: Large Indian digital lending NBFC focused on SMEs and salaried segments; relevant as a parallel to Oxyzo's scale-up trajectory in SME credit origination and asset-quality management.
• Amazon Business: Global B2B procurement marketplace from Amazon serving Indian SMEs with industrial and MRO supplies; comparable as a much larger incumbent entering OfBusiness's category with broader assortment and logistics scale.

Emerging players

• Zetwerk: B2B manufacturing marketplace outsourcing metal fabrication and industrial components, with growing embedded finance capabilities; overlaps with OfBusiness in metals procurement and on-demand manufacturing.
• Bizongo: B2B platform for packaging and apparel supply chains with embedded vendor financing, comparable to OfBusiness in serving SME manufacturers with combined procurement and credit products.

Others

• Blackbuck (Zinka Logistics): India's leading trucking-fintech platform serving SME fleet operators; adjacent ecosystem peer given OfBusiness's reliance on freight logistics for raw-materials fulfilment across India.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ofbusiness_com
• Facebookfacebook.com/OfBTech
• LinkedInlinkedin.com/company/ofbusiness

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries8 records

Funding overview

Funding rounds12 records

Investors16 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments7 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about OfBusiness