Back
Inactive
AprameyaAIย โขย 1y
๐ OfBusiness: The B2B Unicorn Revolutionizing SME Financing and Procurement ๐ผ Let's dive into the inspiring journey of OfBusiness, a game-changer in the Indian B2B space: 1. Founded in 2015 by Asish Mohapatra, Ruchi Kalra, and others โข Identified gap in SME financing and raw material procurement 2. Innovative Business Model โข Combines financing with bulk procurement of raw materials โข Offers end-to-end solutions for SMEs 3. Rapid Growth โข Achieved unicorn status in July 2021 โข Valued at $5 billion by December 2021 4. Key Success Factors: โข Technology-driven approach โข Focus on underserved sectors like manufacturing and infrastructure โข Strong risk assessment models 5. Expansion Strategy โข Launched Oxyzo, a separate fintech arm โข Expanded to over 100 clusters across India 6. Impressive Financials โข Profitable since inception โข Revenue grew from โน1,748 crore in FY20 to โน1,379 crore in H1FY22 7. Future Plans โข Eyeing IPO in the coming years โข Continued expansion into new sectors and geographies Key Takeaways: โข Solving real pain points leads to rapid adoption โข Technology can transform traditional sectors โข Profitability from day one is possible in the startup world "We're not just providing capital, we're enabling growth." - Asish Mohapatra, Co-founder OfBusiness proves that focusing on fundamentals while leveraging technology can create a sustainable, high-growth business.
More like this
Recommendations from Medial
Dr Sarun George Sunny
The Way I See Itย โขย 10m
OfBusiness Business Model: Redefining B2B Commerce OfBusiness is revolutionizing Indiaโs B2B landscape by addressing two key SME challenges: sourcing reliable raw materials and accessing affordable credit. By combining procurement, financing, and te
See More
Sanskar
Keen Learner and Exp...ย โขย 1y
"Ofbusiness" the company whose revenue is approx 2.5x the revenue of Zerodha, 2x the revenue of zomato and 5x the revenue of lenskart is the Amazon for Raw material procurement with a revenue of Rs 15,432 crore and a profit of Rs 463 crore in FY23. A
See More
Applyly
Hey I am on Medialย โขย 10m
Mintifi reports Rs 92 Cr PAT on Rs 384 Cr revenue in FY24 The supply-chain financing startup Mintifi recorded impressive growth in operational revenue. Their revenue operations increased dramatically from Rs 223 crore to Rs 384. The companyโs interes
See More
Ashish Singh
Finding my self ๐ถโ๏ฟฝ...ย โขย 10m
๐คฏ India's fastest unicorn Mensa Brands, founded by Ananth Narayanan in 2021, became India's fastest unicorn, achieving a $1.2 billion valuation in just six months.๐ซก The company scales digital-first consumer brands across categories like fashion, b
See More
Anonymous
Hey I am on Medialย โขย 1y
India is like a highly unorganised marketplace. There are many opportunities in it, but people who aren't seeing things clearly run after consumer tech products, which are pretty hard to build. On the other hand, you can make crores in profit by sol
See More
Mridul Das
Introvert!ย โขย 9m
Studies show that while high-growth startups attract investors, only about 1 in 10 venture-backed startups( India) achieve long-term success. Momentum alone isn't a moatโwithout profitability, strong unit economics, and adaptability, rapid growth oft
See More
Download the medial app to read full posts, comements and news.