PE Fund Investments
OfBusiness lending biz spinout Oxyzo raises $200-M; turns Unicorn
Oxyzo Financial Services, the lending spin out of Delhi-based business-to-business (B2B) commerce startup OfBusiness, has raised its first external funding of USD 200 million. The financing round was co-led by Alpha Wave Global and Tiger Global with participation from Norwest, Matrix Partners and Creation Investments. (All the investors have invested previously in the parent company.) With a valuation of USD 1 billion after the funding, Oxyzo is the latest addition to India's list of unicorns. Post deal, OfBusiness will hold an about 70-80% stake in the company. Oxyzo offers supply-chain financing for SMEs. It has also started lending to businesses in sectors like logistics, warehousing and direct-to-consumer, besides financing suppliers of OfBusiness.
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