#ofbusiness

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With the Acquisition of Koeleman India, OfBusiness Expands into the Food Processing Sector   - Indiabiz

OfBusiness, a prominent B2B platform, has expanded its operations into the food processing industry with the purchase of Koeleman India, a s

OfBusiness, a prominent B2B platform, has expanded its operations into the food processing industry with the purchase of Koeleman India, a subsidiary of the Dutch-based Koeleman Foods International. OfBusiness will gain a 100% share in Koeleman India because of the acquisition, which is expected to be worth $10 million.

[shlipayadavblog]

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

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.

Ruchi Kalra, chief executive officer and co-founder at Oxyzo, said that the firm's operations and lending were never purely dedicated to OfBusiness clients. “We have always focused on creating our own balance sheet and hence our book balance has always been growing well. Over 70 per cent of lending from Oxyzo is for companies outside of OfBusiness,” she added. Oxyzo has grown to an AuM of $350 million with a 100% Y-o-Y growth while maintaining its GNPA at 1.2% even through the Covid period.

[niccipinc]

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[cubanvirgo13]

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