fbpx
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • REGISTER
  • login
No Result
View All Result
No Result
View All Result
Home Featured

Ofbusiness’ lending arm Oxyzo enters the unicorn club after a US$200 million fundraise

AsiaTechDaily Writer by AsiaTechDaily Writer
29 March 2022
in Featured, Financial Technology
0
Oxyzo
27
SHARES
Share on FacebookShare on Twitter
Bookmark(0)

Please login to bookmark

No account yet? Register

Oxyzo Financial Solutions Pvt Ltd, OfBusiness’ finance arm, has become a unicorn after receiving $200 million in a Series A funding round. The financing round was led by Alpha Wave with Tiger Global Management, Norwest Venture Partners, Matrix Partners, and Creation Investments joining as co-investors.

Oxyzo began as the finance platform of the OfBusiness Group, intending to provide cash flow matching working capital financing for SMEs (small-medium businesses) in conventional industries like manufacturing and subcontracting. It eventually branched out outside OfBusiness’s B2B (business-to-business) raw material platform, lending to various industries.

According to the company, the funds will help scale Oxyzo’s broader digital financial services both organically and inorganically. They will do it by scaling the supply chain marketplace, launching fixed income products for small businesses, and scaling other fees, like debt capital markets and securities.

Oxyzo claims to have $350 million in assets under management (AUM). The firm also claimed to have grown by 100% year over year and kept its GNPA (gross non-performing asset ratio) at 1.2 percent throughout the Covid era. According to the corporation, it has a best-in-class operating expense of 2.5 percent.

In the previous six months, according to the company, Oxyzo’s newly launched fixed income and securities business line has generated a total market volume of more than $1.6 billion. Oxyzo claims it has been successful from its beginning and presently has a pre-tax return on assets of over 5.5 percent.

Future Plans

 “Oxyzo has inherited the highest standards of corporate governance and compliance from its parent, OfBusiness, which has been essential in both organizations becoming the first to be rated A+ (by ICRA) in their respective categories,” Chief Executive Officer of the OfBusiness Group, Ashish Mohapatra, stated.

Oxyzo said that it aspires to consistently innovate in the B2B financial services industry by leveraging technology to provide end-to-end capabilities in origination, deployment, tailored structuring, and distribution.

“We see a notable shift in the growing demands and servicing strategy in the B2B market with the rise of the digital economy,” stated Ruchi Kalra, Co-founder and Chief Executive Officer of Oxyzo.

 

What are your thoughts?
+1
2
Upvote
+1
0
Clap
+1
0
Clap
+1
0
On fire
+1
0
Meh
+1
0
Clap
+1
0
Tags: B2BDigital Financesupply chain
Previous Post

Bangladeshi edtech startup Shikho scores $4m in fresh funding

Next Post

How did Amagi Media Labs become India’s First Media Saas Unicorn?

Related Posts

Qoala
Featured

Indonesian insurtech startup Qoala raises $65m in Series B round

May 13, 2022
Chainalysis
Blockchain

Blockchain data platform Chainalysis bags $170m in GIC-led funding

May 13, 2022
Good Startup
Featured

Singapore VC Good Startup closes alt protein fund at $34m

May 12, 2022
oHouse
Featured

South Korean home interior platform oHouse raises $182m

May 10, 2022
Peppermint
Featured

Australian fintech Peppermint gets e-wallet license in the Philippines

May 5, 2022
LottieFiles
Animation

LottieFiles scores $37m in Square Peg-led Series B round

May 5, 2022
Next Post
Amagi Media Labs

How did Amagi Media Labs become India's First Media Saas Unicorn?

Discussion about this post

No Result
View All Result

FREE NEWSLETTER

Copyright © 2021 AsiaTechDaily.com| About Us | Seed acceleratorTerms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

No Result
View All Result
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Ecosystem
    • Marketplaces & E-commerce
    • Robotics
    • Investments
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • Forums
  • Jobs
  • REGISTER
  • Login

Copyright © 2021 AsiaTechDaily.com| About Us | Seed acceleratorTerms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo