Back
Havish Gupta
Figuring Out • 11m
Meet OfBusiness, a $5 Billion Startup which you never Heard of! It was Founded in 2015 by Ashish Mahapatra, an IIT and ISB student who previously worked at McKinsey. The company focuses on the MSME sector which contributes to about 30% to India's GDP. But they often struggle with getting raw materials and securing credit. That's what Ashish solved with OfBusiness, a platform that connects MSMEs directly with supplier of raw materials like steel. This cuts out the middlemen offering better prices. They offer credit, ensures quality and also provide timely deliveries. Then they also created BidAssist, a tool that helps MSMEs find and win government contracts. They even expanded into manufacturing of raw material. But what's interesting is that instead of starting their own factory, they aquire them. Their FY23 revenue was ₹15,432 cr with $463 cr profit. In summary, OfBusiness is Amazon of B2B sector that controls the whole supply chain. What do you think of this?
Replies (12)
More like this
Recommendations from Medial
Download the medial app to read full posts, comements and news.