Private Equity Fund Investments
Fintech startup Ofbusiness is latest unicorn with $160-M from SoftBank, others
Gurugram-based Ofbusiness, an SME-focused NBFC, has raised USD 160 million led by SoftBank Vision Fund-II, valuing the company at USD 1.5 billion and making B2B commerce platform India's latest unicorn startup. While SoftBank invested USD 150 million into OfBusiness in this round, Falcon Edge Capital and Matrix Partners contributed the balance. Falcon Edge had led a USD 110 million financing round in the company in April, valuing it at USD 800 million. The company will use the fresh funds for acquisitions and strategic investments to gain greater control over the supply chain of its core segments like foodgrains, metals, plastics, petrochemicals, industrial chemicals, food grains and building materials.
From the Venture Intelligence PE-VC Deal Database: Between Feb 16 and Apr 21, OfBusiness had raised over $220-M from various investors including Falcon Edge Capital, Creation Investments, Matrix Partners India and Norwest. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
Want to receive such news items in your inbox? Click Here to sign up for a trial.
