OfBusiness raises ₹200 cr in Series C round
Technology-enabled SME financing platform OfBusiness has raised about ₹200 crore in a Series C financing round led by Creation Investments and Falcon Edge. Existing investors Matrix Partners India and Zodius Capital participated in the round. With this, OfBusiness has raised ₹500 crore of equity and debt funding so far. The company has raised debt from Kotak, Tata Capital, RBL Bank and Northern Arc. OfBusiness has created a new category of purchase finance for SMEs with a range of short- and long-term products. The company adds value to an SME’s business through its raw material fulfilment and new opportunities platform. OfBusiness will use the funds to grow the business and greater financial leverage. Its proprietary platform Bidassist helps SMEs discover growth opportunities across public and private tenders.