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OfBusiness Raises $11mn in Funding from Zodius Capital

ofbusiness funding13 December 2016, India :

India’s most trusted SME network- OfBusiness, has raised $11 million in its Series B round led by Zodius Capital, as per ET report.

Gurgaon-based OfBusiness is an online marketplace for business to business (B2B) commerce. It was founded back in January by Asish Mohapatra, a former director at Matrix; Bhuvan Gupta, ex-vice president of engineering at Snapdeal; and former McKinsey partner Ruchi Kalra.

Asish Mohapatra, Co-founder, Ofbusiness said, “We at Ofbusiness are passionate about the SME space given our collective experiences and the opportunity it offers in both depth and scope for innovation. “Profitable” commerce is how we acquire customers, credit will lock them in and gradually, we will add more services in the network. We intend to build the largest SME network in India. Zodius is a highly respected name in the growth capital world, known for supporting businesses that disrupt deep offline sectors through sheer execution and technology. It’s a privilege to have them as partners in our quest to be the most trusted and deepest SME network in India.”

OfBusiness is a fast growing technology driven business to business marketplace focusing initially on product commerce. It aims to make available better products, at better prices, in better timelines to customers with a comprehensive online and offline support including an online marketplace, logistics and credit platform. Angel investors Apoorva Patni, Bhavish Aggarwal, Pranay Chulet, Prashant Malik, Rohit M A and Sumesh Menon also participated the round.

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