OfBusiness joined the Unicorn Club on Jul 31, 2021 after raising a $160 million Series E funding round, reaching a $1.59 billion valuation. Headquartered in Ahmedabad, Gujarat, India, OfBusiness provides a B2B platform for raw material procurement and credit access for small and medium enterprises.
The platform offers smart procurement solutions, structured financing, order management, and price discovery tools.
Keep reading to learn how OfBusiness scaled into a leading construction and B2B materials tech unicorn.
What Is OfBusiness and What Does It Do?
Founded in 2015, OfBusiness is a B2B platform offering raw material procurement and access to credit for small and medium enterprises. It enables manufacturers and contractors to source materials, manage orders, and access structured financing.
The platform provides price discovery tools, smart procurement solutions, and integrated credit options to help businesses streamline operations and scale efficiently.
How Much Funding Has OfBusiness Raised?
1. Series A Round
- Amount Raised: $10 million
- Date: 2017
- Lead Investors: Sequoia Capital India
- Purpose: Scale procurement platform and expand SME customer base
2. Series B Round
- Amount Raised: $20 million
- Date: 2018
- Lead Investors: Lightbox Ventures
- Purpose: Expand geographic footprint and enhance platform features
3. Series C Round
- Amount Raised: $50 million
- Date: 2019
- Lead Investors: Tiger Global Management
- Purpose: Strengthen financing solutions and product offerings
4. Series D Round
- Amount Raised: $75 million
- Date: 2020
- Lead Investors: Alpha Wave Global
- Purpose: Scale platform operations and expand SME financing
5. Series E Round
- Amount Raised: $160 million
- Date: Jul 31, 2021
- Lead Investors: SoftBank Vision Fund, Alpha Wave Global, SoftBank Group
- Valuation: $1.59 billion
- Purpose: Accelerate platform expansion, enhance procurement and financing solutions
6. Series G Round
- Amount Raised: $11.7 million
- Date: Apr 16, 2025
- Purpose: Support operational growth and platform development
Total Funding Raised: $776 million Latest Funding Round: Series G Latest Funding Date: April 16, 2025 Employee Count: 692 as of Aug 31, 2025
Key Investors
- SoftBank Vision Fund
- Details: Global technology investment fund
- Focus Areas: High growth technology and B2B platforms
- Marshall Wace
- Details: Investment management firm
- Focus Areas: Growth stage technology companies, B2B services
- SoftBank Group
- Details: Multinational conglomerate and venture investor
- Focus Areas: Technology and digital platforms
Where Is OfBusiness’s Headquarters?
OfBusiness is headquartered in Ahmedabad, Gujarat, India, supporting procurement operations, financing solutions, and enterprise technology development.
What’s Next for OfBusiness?
OfBusiness plans to expand its B2B procurement and credit platform across more regions, enhance smart procurement tools, and scale structured financing solutions. The company is focused on supporting SMEs with integrated technology and credit options to drive growth and operational efficiency.
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