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The OfBusiness Success Story is the ultimate antidote to the Indian startup hype cycle. While the media obsessed over 10-minute grocery delivery and B2C cash burns, a quiet revolution was brewing in the dusty industrial clusters of Bharat.
In 2015, Asish Mohapatra and his co-founders looked past the urban consumer and saw the broken backbone of India’s economy: the Small and Medium Enterprise (SME).
They realized that a factory owner in Ludhiana or Coimbatore didn’t need a flashy app. They needed two fundamental things that traditional systems denied them: quality raw materials (Steel, Cement, Polymers) at fair prices, and the working capital to buy them. Banks demanded collateral the SMEs didn’t have; suppliers demanded cash upfront. The SME was trapped.
OfBusiness didn’t just build a marketplace to connect buyers and sellers. They realized that in B2B Bharat, commerce cannot happen without credit.
This led to their masterstroke: the creation of Oxyzo, their financing arm. They became the supplier and the bank. By using procurement data to underwrite loans, they unlocked a massive, credit-starved market that traditional banks ignored.
Today, OfBusiness is not just a unicorn; it is a massively profitable titan, often valued higher than the noisy B2C brands that dominate the headlines. They are the silent infrastructure powering Bharat’s manufacturing ambitions.
How did they build the most profitable playbook in the Indian ecosystem?
Let’s decode the Indicorn reality.
The B2B Flywheel
How OfBusiness combined commerce and credit to build India’s profitable industrial backbone.
- Aggregates Demand
- Bulk Sourcing (Steel, Cement)
- Transparent Pricing
- Guaranteed Logistics
- Working Capital Loans
- Data-Backed Underwriting
- Purchase Financing
- Sticky Ecosystem
The “Anti-Hype” Strategy: Why They Bet on the Boring
While the Indian startup ecosystem was obsessed with “Customer Acquisition Cost” (CAC) in the B2C space, OfBusiness focused on a metric that matters more in B2B: Retention via Credit.
Their insight was profound in its simplicity: An SME will buy steel from anyone offering a lower price today. But they will stay loyal forever to the partner who gives them the credit to buy that steel when the banks say no.
By launching Oxyzo, their financing arm, they stopped being just a middleman marketplace. They used the data from their procurement platform to underwrite loans. If they knew exactly what an SME was buying and selling, they knew the business was real. This “proprietary data moat” allowed Oxyzo to build a massive, profitable loan book with incredibly low default rates, something traditional NBFCs could only dream of.
Conclusion: The Indicorn Reality
OfBusiness is the “adult in the room” of the Indian startup ecosystem. They proved that you don’t need to burn cash to grow fast in Bharat. By focusing on the unglamorous, friction-filled world of industrial raw materials and SME finance, they built a fortress.
As they march towards a highly anticipated IPO, OfBusiness stands as the ultimate proof that real value in India lies not just in selling to the next 100 million consumers, but in empowering the millions of businesses that serve them.
Read Next: OfBusiness mastered B2B finance, but Skyroot conquered gravity. Read Launchpad Bharat: Skyroot’s Audacious Leap to the Stars.
Reference: The MSME sector contributes roughly 30% to India’s GDP, highlighting the massive scale of the market OfBusiness serves.
Decoding the Silent Titan
What is the difference between OfBusiness and Oxyzo?
OfBusiness is the B2B commerce platform that helps SMEs source raw materials like steel, cement, and polymers at better prices. Oxyzo is its financial arm (an NBFC) that provides working capital loans to these SMEs to purchase those materials. They work together as an integrated ecosystem.
How is OfBusiness so profitable compared to B2C startups?
Unlike B2C companies that burn cash on advertising and discounts to acquire fickle consumers, OfBusiness serves B2B SMEs with high recurring demand. Furthermore, their lending arm, Oxyzo, is highly profitable because they use proprietary procurement data to ensure very low default rates on loans.
Who are the customers of OfBusiness?
Their primary customers are Small and Medium Enterprises (SMEs) in the manufacturing and infrastructure sectors across Tier 2 and Tier 3 India (Bharat). These businesses often struggle to get fair pricing from suppliers and credit from traditional banks.
