Oxyzo turns Unicorn with record $200M Series-A from Tiger Global, Alpha Wave

Gurugram-based Oxyzo Financial Services, a tech-enabled innovative financing solution provider, has raised $200 million Series A funding. The round was led by Alpha Wave and co-led by Tiger Global, Norwest Venture Partners, Matrix Partners, and Creation Investments. The round has valued the company at $1 billion.

The funds will be utilized in ways like:

to expand the company’s digital financial services play organically and inorganically,
raising the supply chain marketplace,
producing fixed income products for the SME space,
rising other fee incomes business lines including debt capital markets and securities,
to continuously innovate in the B2B financial services space through entire capabilities.

Oxyzo was founded in 2016 by Asish Mohapatra and Ruchi Kalra. Initially, Oxyzo started as a financing platform of Ofbusiness - to provide cash flow matched working capital financing for buying raw materials for SMEs in the traditional sectors of the economy such as manufacturing and subcontracting.

In the next stage of its growth, the company expanded to value chains beyond OfBusiness’s B2B raw material platform with a diversified product suite and a broader customer base to include SMEs, mid-corporates, and also the new age economy.

The firm is now working on its strong supply chain data warehouse, based its cumulative disbursements of $2 billion+ across 30,000+ nodes to build a digital supply chain and embedded finance marketplace.

Oxyzo’s recently launched fixed income and securities business line has achieved a cumulative market volume of $1.6 billion+ in the last six months.

EXECUTIVE OPINION:

Ruchi Kalra, Co-founder, and CEO, of Oxyzo, said, “With the emergence of the digital economy, we see a marked shift in the emerging needs and servicing approach in the B2B segment. We want to be at the forefront of this as a diversified financial services company, differentiated through its innovative financial products and digital platforms on the back of strong credit and origination capabilities. We are very excited about our next phase of growth as we further embed ourselves digitally into the SME, mid-corporate, and the new age supply chains.”

Navroz D Udwadia, Co-founder and Partner at Alpha Wave Global, said, “We’ve been fortunate to be their partners for a while and have seen an impressive scale-up with best-in-class risk management despite strong headwinds from Covid. We look forward to helping build a high-single-digit RoA business that compounds over a long runway.”

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Oxyzo turns Unicorn with record $200M Series-A from Tiger Global, Alpha Wave

Tags : Oxyzo,Oxyzo news,Oxyzo funding news

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