Oxyzo Success Story – Tailored Finance, Empowering Business Growth

Oxyzo has cracked the code to unicorn status with its Series A funding of $200 million, making it one of the rare startups to achieve a $1 billion valuation so early. Even more impressive, it’s led by a woman co-founder, joining an exclusive group of female-led ventures to reach this milestone. 

Originally as the financing department of OfBusiness Group, a leading player in the B2B industry, Oxyzo changed the paradigm of SME financing by providing working capital solutions, designed to meet the cash flow requirements of supply industries such as manufacturing and sub-contracting. Today with a market valuation of $1 billion, Oxyzo business loans is at the leading edge of enabling legacy industries with the financial products they require to play an important role in the new economy.

Oxyzo Highlights

Attribute	Details
Startup Name	Oxyzo
Headquarters	Gurgaon
Sector	Fintech
Founders	Ruchi Kalra, Asish Mohapatra, and Bhuvan Gupta.
Founded	2016
Valuation	$1 billion
Website	oxyzo.in

About Oxyzo

Oxyzo is the ultimate partner in transforming small businesses into industry powerhouses! It knows the pulse of SMEs and it is committed to delivering business credit solutions that drive growth and have explosive revenues. The adaptive, custom loan products—including working capital, Oxyzo business loans, and collateral-free borrowing—are built to take the business from Point A to Point B at interest rates that are favorable and approvals take a mere 48 hours!

Oxyzo India has already empowered over 5,000 SMEs, managing an AUM of Rs 5,000+ crores. Oxyzo funding solutions provide the financial boost businesses need, offering elegant and customized financial offerings to expand, optimize, or ascend to new heights. With Oxyzo working capital, the sky’s the limit!

Business and Revenue Model of Oxyzo

Oxyzo Financial Services is an Indian leading B2B fintech company that strongly focuses on offering its clients the most customized credit-based solutions for small and medium-sized enterprises (SMEs). Using cash-flow-based financing, Oxyzo business loans offers working capital-management solutions and access to raw materials, so, they can grow their businesses, generate profits, and improve their profit margins.

The company’s business model targets SMEs with annual revenues between INR 5 to 500 crore, especially those with established credit histories. Business credit solutions mitigates the financial constraints faced by these companies, companies who typically find traditional bank lending infeasible because of the need for collateral. Offering a combination of financing and raw material access at favourable costs through its joint venture with OfBusiness, Oxyzo provides a highly integrated platform that adds substantial value to clients.

At Oxyzo, credit scoring rules (algorithms) are used to credit score the clients in an efficient way that allows for fast loan establishment and disbursement. The main source of revenue generation for the company is interest income, and it accounted for 94.1% of its total operating revenue in the fiscal year ending March 2023(Rs 537 crore). 

Additionally, Oxyzo has also ventured out to fee-for-service activities, such as debt capital markets and securities, which de-risks the revenue base. Oxyzo is creating a supply chain financing and marketplace in order to develop a direct relationship between SMEs and suppliers from which revenue can be earned either from a transaction or service fee.

Oxyzo’s operating revenue (903 crores), an increase of 59%, for fiscal year 2024 and net profit (290 crore) for the fiscal year 2024 reflect the company’s solid financial development.

Oxyzo Founders and Team

Emerging fintech star, Oxyzo, was created by the inspiring pair of Asish Mohapatra and Ruchi Kalra. This husband-wife team, who are also the co-founders of OfBusiness, have turned their entrepreneurial journey into a powerful tale of building unicorn startups. Together managing the company by being CEO of Oxyzo with Ruchi at the helm and CEO of OfBusiness with Asish, their combined skill set is still breaking boundaries in the business world.

Asish Mohapatra’s career started in 2015, when he co-founded OfBusiness, and he is currently the CEO of the company. Before taking the plunge into the world of entrepreneurship, Asish previously worked as a Senior Associate at Matrix Management Corporation, Mumbai. His position at Matrix enabled him to transfer his extensive background of healthcare and operations to drive growth for nascent companies. Asish’s academic credentials include a B. It is Tech in Mechanical Engineering from IIT Kharagpur and an MBA in Finance and Marketing from Indian School of Business, Hyderabad.

Ruchi Kalra’s career has been equally impressive. Since co-founding Oxyzo in 2016, she has taken charge of Credit and Payments, leveraging her experience from McKinsey & Company and Evalueserve. Having graduated from IIT Delhi (B.Tech in Chemical Engineering) and ISB with an MBA, Ruchi has been, and continues to be at the enablement point of innovation, making the trajectory growth of Oxyzo financial services a comfortable leap.

Vasant Sridhar, amongst others, has made and is making, a significant contribution to the company’s vision. Having a Chemical Engineering background from IIT Madras and a working experience in ITC Limited, Vasant’s leadership has played a key role in the growth and diversification of OfBusiness into commerce, lending and logistics. His entrepreneurial zeal also drove him to co-found Bloodline, a mobile/web technologies focused project, with the intent of ending the bleeding shortage of blood in India.

Together, these visionary are start to be overhaul the startup universe.

Oxyzo Key Features

Oxyzo India is changing the economic playing field for small medium enterprises (SMEs) by offering fast, adaptable, easy-to-use loan products. Here’s how it stands out:

• Fast Loan Approvals: Get your loan approved in just 48 hours, so you can focus on growing your business.
• Minimal Paperwork: Say goodbye to piles of documentation – applying for a loan is straightforward and quick.
• No Collateral: No need to pledge assets – Oxyzo business loans support your business needs.
• Flexible Repayment Options: Right scale of your repayment term to sync with cash flow & necessity of business. 
• Attractive Interest Rates: Take advantage of competitive rates that make financing cost effective.
• Tailored Financing Solutions: Whether it’s working capital, purchase finance, or machinery loans, Oxyzo has options designed specifically for SMEs.
• Fully Digital Process: Loan apply, management, and tracking all online, in an intuitive interface that is simple to use.
• Access to Purchase Financing: Get resources to obtain Oxyzo funding and the initial purchases of raw material that may help to save in the short-run making a profit along with the business.

Oxyzo’s digitally-led way of operating guarantees SME in financing will have the finance they need quickly, easily, and with no fuss.

Oxyzo Competitors

Right now in today’s fast-paced business climate getting fast, quick, and efficient financing is the difference between winning and losing. Below are the main companies in the field, which are offering more financing help and accessibility).

• Veritas Finance: It’s not just about numbers—it’s about trust. Providing microloans to MSMEs in the informal sector, it’s here to unlock new growth opportunities without the need for collateral. Empowering business, every step of the way.

• CapitalSetu: Your partner in supply chain financing. Bridging the gap between cash flow challenges and business success, we provide the fuel your enterprise needs to thrive in today’s fast-paced economy.

• Finflux: Your all-in-one SaaS banking solution. From loan origination to alternative data-based credit scoring, we’ve got you covered. From loan management to financial accounting to app-financed lending, our platform makes it all easy, allowing businesses to realize their full potential with speed and innovation.

• nCino’s Mortgage Suite: Revolutionize the mortgage industry through a fully customized, white-labelled platform. Do more business more quickly, with a system that scales to fit your way of working.

• Encompass by Ellie Mae: The complete solution for compliant, efficient mortgage loan management. A system of record that ensures your business stays on track, closing compliant loans with ease.

Oxyzo financial services are here to help you keep ahead of the curve among increasingly adaptive businesses.

Oxyzo Awards and Achievements

Oxyzo is not just a fintech for businesses—it’s a force driving the future of alternative lending. Keep watching as we rewrite the rules of financial innovation!

• Crowned the ‘New Unicorn of the Year 2022’

• At the elite CII Unicorn Summit 2024, Oxyzo became a visionary disrupter in the startup landscape.

• Named “Emerging Startup of the Year”, Oxyzo’s unique lending offerings transformed the financial world, achieving awards throughout the industry.
• Fintech Champion 2020-21
• Bagged the Best Fintech of the Year Award from Financial Express, for revolutionizing financial services using incomparable innovation.
• Achieved an impressive AUM of ₹5,000 Cr in 2023.
• Skyrocketing towards $1 Billion AUM, with a strong foundation of ₹3,000 Cr.
• Game-Changing Series A Funding
• Raised a record $200 million, placing Oxyzo in the exclusive Unicorn Club.
• Achieved a remarkable 3-notch rating movement with CRISIL’s A (Stable) classification.

Future plans for Oxyzo

With its parent company, OfBusiness, eyeing an IPO in the next 12 months, Oxyzo is planning its own bold move—an independent equity fundraising in the private market within the next 6-12 months. 

With already around ₹1,963 crore of primary equity in hand to support its expansion, business credit solutions is backed by an equally impressive list of investors such as Alpha Wave Ventures, Tiger Global, Norwest, Matrix Partners, and Creations Investments. The aim of Oxyzo’s is to push the proposition forward—that is, to leave the conventionality behind, which holdings brands and firms create, define, and redefine paradigms of finance. 

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Conclusion

Oxyzo’s evolution from a finance function within OfBusiness to that of pioneering fintech for businesses is truly inspiring. Tailored working capital for SMEs (in sectors like manufactory or subcontracting), Oxyzo solves a gap in the market. 

What is equally heartwarming is that this success is run by a female co-founder who is not only crossing the gender barrier but also shattering all glass ceilings that have been set for women in an industry that is largely ruled by men. And, as a $1 billion valued Oxyzo, it’s not just disrupting how businesses find finance but is also effecting the very survival of SMEs in the modern economy.

Oxyzo-as it keeps scaling new heights is an example worth celebrating of what can be done when vision, innovation and resolve come together. The future is great, and Oxyzo is here to show us how it will change financing for the better over the years. 

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