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Havish Gupta

Stealth • 7m

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?

11 replies22 likes

Replies (11)

Havish Gupta

Stealth • 5m

Note: the profit is in rupees and not dollars 😅

0 replies

Himesh Jain

Stealth • 7m

Actually I have heard of them 😂

2 replies1 like

Anonymous 1

Stealth • 7m

Woahhh profit🤑

1 replies1 like

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Early salary was a great concept. Everyone runs out of money before month ends. Kind of like the credit card business. Had to do well. 550 cr is incredible in the market condition.

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Is there any platform for selling and buying of raw materials for industries in bulk and at wholesale price? If there are any please mention we that are those? If there are none please tell why you you think there are none?

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