Oxyzo

Oxyzo primarily sources borrowers through its parent company OfBusiness, a B2B procurement marketplace that captures transactional and cash-flow data on SMEs buying raw materials. This integration gives Oxyzo a proprietary view of borrower health before extending credit, reducing reliance on traditional bureau scores. The firm also originates directly through its digital platform and partnerships with corporate supply chains.

Oxyzo operates as both. It lends from its own NBFC balance sheet, funded by equity capital and institutional debt lines, and also distributes originated loans to public-sector banks and development-finance institutions. The firm has listed on the BSE debt segment and onboarded lenders including the State Bank of India and Bank of India to participate in its credit pools.

Credit and investment decisions are led by the founding team headed by CEO Ruchi Kalra and co-founder Asish Mohapatra, both former consultants with experience scaling OfBusiness. The firm has not publicly disclosed a separate chief investment officer or credit committee structure, suggesting decision-making remains concentrated among the senior founders and early-stage business heads.

Oxyzo raises both equity capital and debt funding externally. Its $200 million Series A in 2022 valued the firm as a unicorn, and earlier rounds included a $100 million equity raise across Series D1 and D2. On the debt side, it has raised lines from DFIs like responsAbility and from Indian public-sector banks, and has accessed public bond markets via BSE listing.

Oxyzo was incorporated in 2016 as the captive financing arm of OfBusiness, a B2B marketplace for industrial raw materials and procurement. The two firms share founders and a data-sourcing relationship — Oxyzo uses OfBusiness transaction data to underwrite SME borrowers. While Oxyzo is a separate legal entity with its own NBFC license and shareholders, it remains closely integrated operationally.

Oxyzo does not publicly list excluded sectors, but its product focus on purchase finance, invoice discounting and unsecured business loans targets SME and corporate working-capital needs in manufacturing, services and infrastructure supply chains. The firm has not signaled activity in consumer finance, agriculture lending or project finance, which are structurally outside its product set.

Oxyzo reached a unicorn valuation through its $200 million Series A round in 2022, an unusually large early-stage raise that reflected its existing AUM scale and origination pipeline. The firm had already crossed ₹1,000 crore AUM and achieved operational profitability before that round, making the unicorn valuation a function of demonstrated asset quality and distribution reach rather than forward projections alone.