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Oxyzo has raised $200.0M across 1 funding round.
Key people at Oxyzo.
Oxyzo was founded in 2016 by Asish Mohapatra (Co-Founder) and Ruchi Kalra (Cofounder and CFO) and Bhuvan Gupta (Co-Founder).
Oxyzo has raised $200.0M in total across 1 funding round.
Oxyzo provides technology-driven credit solutions to small and medium enterprises. The company offers tailored financing, including term loans, working capital, purchase finance, and invoice discounting, designed to support business expansion. Leveraging its tech platform, Oxyzo streamlines credit origination and deployment, enhancing capital access for clients.
Incorporated as an NBFC in 2016, Oxyzo was co-founded by Ruchi Kalra and Asish Mohapatra, along with other co-founders. They identified critical financial gaps in the B2B sector. Ruchi Kalra, as CEO, and Asish Mohapatra utilize their experience to develop specialized products addressing enterprise operational and growth needs.
Serving diverse SMEs, Oxyzo empowers businesses through intelligent, accessible financial solutions. Its mission is to meet the B2B sector's dynamic demands by offering customized financing and facilitating digital access to robust credit. Oxyzo envisions expanding digital financial services, scaling its supply chain, and introducing innovative products to foster client growth.
Oxyzo was founded in 2016 by Asish Mohapatra (Co-Founder) and Ruchi Kalra (Cofounder and CFO) and Bhuvan Gupta (Co-Founder).
Oxyzo has raised $200.0M in total across 1 funding round.
Oxyzo's investors include Navroz D. Udwadia, Norwest Venture Partners, Tiger Global Management, Deniz Aslandogan, Michael Moritz, Creation Investments, Vikram Vaidyanathan, Niren Shah.
Oxyzo Financial Services Limited is a Gurugram-based fintech unicorn that provides technology-driven, collateral-free credit solutions to small and medium enterprises (SMEs) in India, focusing on working capital financing, purchase finance, invoice discounting, and loans for machinery or property.[1][2][3][4] Originally the lending arm of B2B platform OfBusiness, it has evolved into an independent NBFC serving over 5,000 SMEs with assets under management exceeding INR 5,000 Cr, achieving consistent profitability with a pre-tax RoA of around 5.5% and FY24 net profit of INR 290 Cr.[1][4][6] Oxyzo leverages advanced algorithms and data analytics for quick, transparent loans, disrupting traditional banking by addressing cash flow gaps without collateral, and has raised $273.93M in funding, including a recent $62.4M debt round.[2][4]
Oxyzo was founded in 2016 by Asish Mohapatra, Ruchi Kalra, Bhuvan Gupta, and Srinath Ramakkrushnan as the financing arm of OfBusiness, a B2B procurement platform supplying raw materials to SMEs.[1][2][3] The idea emerged from founders' firsthand experience with SMEs' struggles: traditional banks and NBFCs delayed credit approvals, causing lost purchase orders, prompting Ruchi Kalra to state, "By the time they gave us a limit for credit, we would have lost the purchase order. So, we decided to do it on our own."[1][2] Early traction came from OfBusiness data enabling faster, lower-risk lending; it quickly scaled beyond OfBusiness suppliers (now 70% external), achieving unicorn status in 2022 via a $200M round led by Alpha Wave Global and Tiger Global.[1][4]
Oxyzo rides India's booming SME fintech wave, where digital lending bridges a massive working capital gap for millions of underserved businesses amid rising e-commerce and B2B digitization.[1][2] Timing aligns with regulatory shifts favoring NBFCs and post-pandemic SME recovery, enabling collateral-free models that traditional banks can't match due to legacy constraints.[2][4] Market forces like data proliferation and AI advancements favor Oxyzo's analytics edge, while its independence from OfBusiness expands reach, influencing the ecosystem by funding startups in high-growth areas like agritech and clean tech, fostering broader SME scaling and economic inclusion.[1][4]
Oxyzo is poised for expansion as a full-stack SME financial services provider, targeting comprehensive needs like long-term financing and tech startup growth capital across India.[1][4] Trends like AI-enhanced risk assessment, IPO readiness (mirroring OfBusiness), and rising SME digitization will propel its loan book beyond recent 14% growth slowdowns.[4][6] Its influence may evolve toward IPO and pan-India dominance, solidifying disruption of legacy lending—transforming SMEs from cash-strapped to scalable enterprises, much like its origins from a single pain point in OfBusiness procurement.[1][2]
Key people at Oxyzo.
Oxyzo has raised $200.0M across 1 funding round. Most recently, it raised $200.0M Series A in March 2022.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Jan 23, 2023 | Log 9 Materials | $40.0M Series B | Vikramadithya Gourineni, Arni Anwarrudin | InCred Finance, Oxyzo Financial Services, Unity SFB, Western Capital Advisors |
| May 17, 2022 | Karbon Card | $7.1M Debt | — | Northern Arc, Oxyzo Financial Services, Abhijit Ray |
| Apr 27, 2022 | Eduvanz | $6.5M Debt | — | MAS, Oxyzo Financial Services, Unifi AIF, Vivriti Capital |
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Mar 1, 2022 | $200.0M Series A | Navroz D. Udwadia | Norwest Venture Partners, Tiger Global Management, Deniz Aslandogan, Michael Moritz, Creation Investments, Vikram Vaidyanathan, Niren Shah |