B2B e-commerce platform OfBusiness raises $325 mn at $5 bn valuation

Delhi-based startup that sells industrial goods online and provides financing to small businesses.

OfBusiness, a Delhi-based startup that sells industrial goods online and provides financing, has raised $325 million in a funding round led by Alpha Wave Ventures II, Tiger Global Management, and SoftBank Vision Fund 2. It was valued at nearly $5 billion.

The company said its B2B e-commerce revenue run rate is over $1.7 billion and SME loan book is more than $360 million in size. OfBusiness finances small businesses through its shadow-banking arm 'Oxyzo Financial Services'.

OfBusiness has registered a six-fold rise in its valuation in months since it was valued at $800 million in April in a funding round.