OfBusiness financial arm Oxyzo raises $200 mn in Series A funding round

The funds will be used to expand Oxyzo's broader digital financial services play organically and inorganically across a strong own balance sheet play

oxyzo
Premium

BS Reporter Mumbai
OfBusiness financial arm, Oxyzo Financial Services, a tech-enabled smart financing solution provider, turned unicorn after raising $200 million in a Series A round led by Alpha Wave and co-led by Tiger Global, Norwest Venture Partners, Matrix Partners and Creation Investments.

Oxyzo started as OfBusiness Group’s financing platform that provided cash flow matched working capital financing for buying raw materials for SMEs in the traditional sectors of the economy such as manufacturing and sub-contracting. However, the company has always been a 100 per cent subsidiary of OfBusiness. Close to 75 per cent of the shareholding in Oxyzo is held by OfBusiness.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Mar 23 2022 | 12:53 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com