• Guest Post   |
  • Submit App Review   |
  • Submit PR   |
  • Advertise   |
  • Contact Us
  • Login
No Result
View All Result
Advertisement
Mobile App Development | Design | Marketing Magazine: Appedus
Subscribe
  • Home
  • App Development
  • App Marketing
    • All
    • App Onboarding
    • App Store Optimisation
    • App User Engagement
    • Push Notifications
    How-to-Create-a-Mobile App-Marketing-Strategy-That-Works-appedus

    How to Create a Mobile App Marketing Strategy That Works

    How-to-Monetize-Your-Mobile-App-Strategies-for-Success-Appedus

    How to Monetize Your Mobile App: 5 Best Strategies for Success in 2023

    App-Analytics-and-Data-Driven-Insights-Appedus

    Marketing 101 : Top App Analytics and Data-Driven Strategies

    In-app-purchases-and-in-app-subscriptions-Appedus

    In-App Purchases and Subscriptions

    Trending Tags

      • App Store Optimisation
      • App User Engagement
      • App Push Notifications
      • App Onboarding
      • App Analytics
    • App Design
    • App Reviews
      • All
      • Books & Reference
      • Business
      • Dating
      • Education
      • Finance
      • Fitness
      • Food & Drink
      • Health
      • iOS apps
      • Lifestyle
      • Medical
      • Photography
      • Productivity
      • Shopping
      • Social
      • Travel
      • Utilities
      • Video Editing
      The-future-of-mobile-virtual-events-and-webinars-appedus

      The Future of Mobile Virtual Events and Webinars

      The-Rise-of-Mobile-Payment-and-Financial-Apps-Appedus

      The Rise of Mobile Payment and Financial Apps

      Adverse Effects Of UV Radiation

      6 Adverse Effects Of UV Radiation

      6-iOS-Productivity-Apps-I-Cant-Live-Without-appedus

      6 Best iOS Productivity Apps You Can’t Live Without

      7-Reasons-Why-Every-Business-Should-Be-Mobile-Friendly-appedus

      7 Reasons Why Every Business Should Be Mobile-Friendly

      The-top-ten-mobile-apps-all-travellers-should-use-appedus

      The top ten mobile apps all travelers should use

      5-Ways-To-Promote-Your-Mobile-App-In-A-Smarter-Way-scaled-appedus

      5 Ways To Promote Your Mobile App In A Smarter Way

      What-To-Do-If-Your-Cell-Phone-Is-Lost-or-Stolen-appedus

      What To Do If Your Cell Phone Is Lost or Stolen

      Free-Android-Meme-Maker-Appedus

      5 Best Free Android Meme Maker

      Trending Tags

      • Travel
      • fitness
      • Video Editing app
      • Utilities
      • Lifestyle
      • Medical
      • Photography
      • Productivity
      • Shopping
      • Social
      • Travel
    • App Events
    • Exclusive
    • Home
    • App Development
    • App Marketing
      • All
      • App Onboarding
      • App Store Optimisation
      • App User Engagement
      • Push Notifications
      How-to-Create-a-Mobile App-Marketing-Strategy-That-Works-appedus

      How to Create a Mobile App Marketing Strategy That Works

      How-to-Monetize-Your-Mobile-App-Strategies-for-Success-Appedus

      How to Monetize Your Mobile App: 5 Best Strategies for Success in 2023

      App-Analytics-and-Data-Driven-Insights-Appedus

      Marketing 101 : Top App Analytics and Data-Driven Strategies

      In-app-purchases-and-in-app-subscriptions-Appedus

      In-App Purchases and Subscriptions

      Trending Tags

        • App Store Optimisation
        • App User Engagement
        • App Push Notifications
        • App Onboarding
        • App Analytics
      • App Design
      • App Reviews
        • All
        • Books & Reference
        • Business
        • Dating
        • Education
        • Finance
        • Fitness
        • Food & Drink
        • Health
        • iOS apps
        • Lifestyle
        • Medical
        • Photography
        • Productivity
        • Shopping
        • Social
        • Travel
        • Utilities
        • Video Editing
        The-future-of-mobile-virtual-events-and-webinars-appedus

        The Future of Mobile Virtual Events and Webinars

        The-Rise-of-Mobile-Payment-and-Financial-Apps-Appedus

        The Rise of Mobile Payment and Financial Apps

        Adverse Effects Of UV Radiation

        6 Adverse Effects Of UV Radiation

        6-iOS-Productivity-Apps-I-Cant-Live-Without-appedus

        6 Best iOS Productivity Apps You Can’t Live Without

        7-Reasons-Why-Every-Business-Should-Be-Mobile-Friendly-appedus

        7 Reasons Why Every Business Should Be Mobile-Friendly

        The-top-ten-mobile-apps-all-travellers-should-use-appedus

        The top ten mobile apps all travelers should use

        5-Ways-To-Promote-Your-Mobile-App-In-A-Smarter-Way-scaled-appedus

        5 Ways To Promote Your Mobile App In A Smarter Way

        What-To-Do-If-Your-Cell-Phone-Is-Lost-or-Stolen-appedus

        What To Do If Your Cell Phone Is Lost or Stolen

        Free-Android-Meme-Maker-Appedus

        5 Best Free Android Meme Maker

        Trending Tags

        • Travel
        • fitness
        • Video Editing app
        • Utilities
        • Lifestyle
        • Medical
        • Photography
        • Productivity
        • Shopping
        • Social
        • Travel
      • App Events
      • Exclusive
      No Result
      View All Result
      Mobile App Development | Design | Marketing Magazine: Appedus
      No Result
      View All Result
      Home Featured

      OfBusiness, in a Softbank-led round, raises $160m to join the unicorn club

      OfBusiness, a Gurugram-based B2B business, aspires to be profitable by exceeding the $1.1 billion revenue run rate in commerce by September 2021.

      by Editorial Team
      August 2, 2021
      in Featured, Funding, News-Curated
      Reading Time: 3 mins read
      1
      Ofbusiness
      Share on FacebookShare on Twitter

      Table of Contents

      • Main Highlights
      • CEO and Co-Founder of OfBusiness, Asish Mohapatra’s Verdicts
      • About OfBusiness

      Main Highlights

      • OfBusiness has joined the unicorn club after receiving a $160 million round backed by SoftBank’s Vision Fund 2.
      • By September 2021, OfBusiness expects to be profitable, having crossed the $1.1 billion revenue run rate in commerce
      • The company claims to be growing four times faster than last year
      • Apart from the B2B raw material supply chain, the firm also offers services in infrastructure and manufacturing sectors such as food processing, engineering, heavy machinery, and capital goods

      Ofbusiness, a Gurugram-based B2B firm, has joined the unicorn club after receiving a $160 million round backed by SoftBank’s Vision Fund 2. According to the firm’s announcement, existing investors Falcon Edge Capital and Matrix Partners also participated in the round.

      The investment was secured at a valuation of close to $1.5 billion, nearly doubling its April estimate of $800 million. Following automotive marketplace Droom and online trucking platform BlackBuck, it is the 18th Indian business to become a unicorn this year.

      By September 2021, OfBusiness expects to be profitable, having crossed the $1.1 billion revenue run rate in commerce. The company claims to be growing four times faster than last year.

      “The present offline supply and financing chain in India is undeserving the country’s 60 million+ SMEs. OfBusiness has successfully created a full-stack system that enables commerce and finance via a single platform, thereby digitizing SMEs. We were pleased by the team’s market leadership, growth, and profitability focus, and we are excited to be a part of OfBusiness,” said Sumer Juneja, Partner at SoftBank Investment Advisers.

      CEO and Co-Founder of OfBusiness, Asish Mohapatra’s Verdicts

      “Disruption in B2B trade in conventional areas of the economy has long been overdue and has come. To face the magnitude and uniqueness of B2B issues, one must be equipped with teams, expertise, technology, and the capacity to address credit demands. OfBusiness has worked hard to develop all four across its three B2B companies. We welcome SoftBank to the family, and we are certain that we will benefit greatly from their strength in financing and worldwide markets,” stated Asish Mohapatra, CEO, and Co-Founder of OfBusiness.

      Apart from the B2B raw material supply chain, the firm also offers services in infrastructure and manufacturing sectors such as food processing, engineering, heavy machinery, and capital goods. OfBusiness also has an Oxyzo subsidiary that provides loans to small and medium-sized businesses, among other services.

      About OfBusiness

      OFB Tech (OfBusiness) is a technology-enabled platform that helps SMEs with raw material procurement and finance, with an emphasis on the industrial and infrastructure industries. It incorporates technology into the purchasing habits of SMEs in order to provide consumers with better products, at lower prices, and in shorter time frames, as well as complete online and offline assistance.

      Metals, chemicals, polymers, agricultural commodities, petrochemicals, and construction materials are among the most important raw resources. It offers SMEs cash flow-based finance for the purchase of raw materials through its NBFC ‘Oxyzo Financial Services.’ The company also provides a variety of digital services for SMEs, such as BidAssist for new growth opportunities.

      OfBusiness provides SMEs with institutional finance (secured and unsecured). They accomplish this by aggregating numerous raw materials, obtaining financing from local distributors and financiers, and then passing on the majority of the aggregation advantages to the SME, such as bulk discounts from manufacturers.

      The above procedure is known as “Purchase Financing,” and OfBusiness provides credit lines to SMEs for a variety of raw materials such as industrial steel (structures, plates, and coils), electrical products, cement, bulk polymers, chemicals, construction materials, and solar systems. The selected raw materials that SMEs across clusters order directly to the manufacturer are subsequently aggregated through OfBusiness.

      Excluding the latest round, it had collected a total of $193.1 million from investors including Norwest Venture Partners, Innoven Capital, and Zodius Capital, according to data portal Crunchbase. Asish Mohapatra, who previously worked with Matrix Partners India, former McKinsey & Company associate Ruchi Kalra, Bhuvan Gupta, who previously worked at Snapdeal, and Nitin Jain, an IIT-Delhi graduate, among others, established the business in 2015.

      mm

      Editorial Team

      We at Appedus are a group of digital nomads aggregating, writing, and publishing the best of the tech news in the mobile app ecosystem. Our constant endeavor is to get the most actionable news for you to use.

      Next Post
      Breathing App Review

      Breathing App Review 2021 | An awesome breathing guide

      Weekly Newsletter

      Top Apps This Week

      The-Top-Mobile-App-Trends-to-Watch-for-in-2023-appedus
      Featured

      The Top Mobile App Trends to Watch for in 2023

      by Editorial
      March 2, 2023

      In this article, we will explore the top mobile app...

      Read more
      The-future-of-mobile-virtual-events-and-webinars-appedus

      The Future of Mobile Virtual Events and Webinars

      February 22, 2023
      The-Rise-of-Mobile-Payment-and-Financial-Apps-Appedus

      The Rise of Mobile Payment and Financial Apps

      February 17, 2023
      Load More

      About Us

      Mobile App Development | Design | Marketing Magazine: Appedus

      Appedus is a mobile app ecosystem focused news publishing platform which covers various topics like app design, app development, app marketing and other relevant news, views or opinions. We also publish industry insights, e-books, developer interviews and e-magazines. You can get in touch with us on hola@appedus.com or you can snail mail us at

      Medianiti Ltd. Brooklands Business Park, Wellington Way, Weybridge KT13 0TT, United Kingdom

      Latest Articles & News

      How-to-Integrate-Machine-Learning-into-Your-Mobile-App-appedus

      How to Integrate Machine Learning into Your Mobile App

      April 1, 2023
      The-Role-of-Gamification-in-Mobile-App-Design-and-Engagement-appedus

      The Role of Gamification in Mobile App Design and Engagement

      March 31, 2023

      Important Links

      • Guest Post
      • Submit App Review
      • Submit PR
      • Mobile App Marketing
      • Mobile App Reviews | Top Android & iOS app reviews
      • Top Apps
      • Curated News
      • Advertise
      • Contact Us

      Subscribe

      • Advertise
      • App Events
      • Appedus
      • Contact Us
      • Exclusive at Appedus
      • Our Authors, Contributors & Writers
      • Privacy Policy
      • Submit App for Review
      • Submit Free Press Release
      • Thank You
      • Tip-Off
      • Write For Us | Mobile App Development Guest Post
      • Write For Us | Mobile App Development Guest Post Paid

      © 2022 Appedus - Appedus All Right Reserved

      No Result
      View All Result
      • Advertise
      • App Events
      • Appedus
      • Contact Us
      • Exclusive at Appedus
      • Our Authors, Contributors & Writers
      • Privacy Policy
      • Submit App for Review
      • Submit Free Press Release
      • Thank You
      • Tip-Off
      • Write For Us | Mobile App Development Guest Post
      • Write For Us | Mobile App Development Guest Post Paid

      © 2022 Appedus - Appedus All Right Reserved

      Welcome Back!

      OR

      Login to your account below

      Forgotten Password?

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In
      This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
      Go to mobile version