# OFB Tech Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ofb-tech-private

- Industry: Financial Services
- Headquarters: Ahmedabad, India
- Website: www.ofbusiness.com
- Total disclosed funding: $842M
- Latest round: Series G (Dec 20, 2021)
- Investors on record: 15

## About

Based in Haryana, India, and founded in 2015 by co-founders Asish Mohapatra, Bhuvan Gupta, Chandranshu Sinha, Nitin Jain, Ruchi Kalra, Srinath Ramakkrushnan, and Vasant Sridhar, OFB Tech Private Limited provides an online financial technology platform for financing the loans of small and medium business enterprises. In April 2025, OFB Tech Private Limited raised INR 1 billion in venture funding led by investor Cornerstone Venture Partners.

OfBusiness operates as a provider of a financing platform for small-medium enterprises in manufacturing and infrastructure sectors through its raw material fulfillment engine and new opportunities platform to get secured and unsecured credit lines as an alternative to financing by local distributors and financiers. OfBusiness generates revenue through its lending vertical, it has a loan book of USD 220 million that grows 80% annually, it has a non-performing asset of 1%. Commerce contributes 55% of its total net revenue, lending and SaaS have a pie of 43% and 2%, respectively. The company plans to expand, acquire and make strategic investments to gain greater control over the supply chain of its core segments like metals, plastics, petrochemicals, industrial chemicals, food grains, and building materials. In addition, the company plans to use its proceeds from series F funding to acquire companies in supply chain commerce and financial services.

## Funding rounds

- Series G, Dec 20, 2021, $325M — Norwest Venture Partners, Marshall Wace, Tiger Global Management, Alpha Wave Global, Zodius Capital, SB Investment Advisers, Z47, Pantherea Growth Fund
- Series F, Oct 12, 2021, $185M — Softbank Capital, Tiger Global Management, Alpha Wave Global, SB Investment Advisers, INTERNET FUND VII PTE. LTD.
- Series E, Aug 2, 2021, $159M — Matrix Partners, Alpha Wave Global, SB Investment Advisers
- Series D, Apr 12, 2021, $67M — Norwest Venture Partners, Creation Investments Capital Management, Alpha Wave Global, Z47
- Series D, Mar 4, 2021, $27M — Matrix Partners, Norwest Venture Partners, Creation Investments Capital Management, Alpha Wave Global
- Series D, Sep 18, 2019, $34M — Matrix Partners, Norwest Venture Partners, Alpha Wave Global
- Series C, Apr 30, 2019, $4M — Matrix Partners, Creation Investments Capital Management
- Series C, Jun 26, 2018, $26M — Creation Investments Capital Management, Alpha Wave Global, Zodius Capital, Z47
- Series B, Nov 21, 2016, $10M — Matrix Partners, Zodius Capital, Indiblu Investment Advisors (Mauritius) Limited
- Series A, Sep 26, 2015, $5M — Matrix Partners, Patni Family Office, Saiam

## Investors

- Matrix Partners (https://capitalatlas.ai/funds/matrix-partners) — Series A, Series B, Series C, Series D, Series E
- Patni Family Office — Series A
- Saiam — Series A
- Zodius Capital (https://capitalatlas.ai/funds/zodius-capital) — Series B, Series C, Series G
- Indiblu Investment Advisors (Mauritius) Limited — Series B
- Creation Investments Capital Management (https://capitalatlas.ai/funds/creation-investments-capital-management) — Series C, Series D
- Alpha Wave Global (https://capitalatlas.ai/funds/alpha-wave-global) — Series C, Series D, Series E, Series F, Series G
- Z47 (https://capitalatlas.ai/funds/z47) — Series C, Series D, Series G
- Norwest Venture Partners (https://capitalatlas.ai/funds/norwest-venture-partners) — Series D, Series G
- SB Investment Advisers (https://capitalatlas.ai/funds/sb-investment-advisers) — Series E, Series F, Series G
- Softbank Capital (https://capitalatlas.ai/funds/softbank-capital) — Series F
- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Series F, Series G
- INTERNET FUND VII PTE. LTD. — Series F
- Marshall Wace (https://capitalatlas.ai/funds/marshall-wace) — Series G
- Pantherea Growth Fund — Series G