B2B commerce and financial services platform OfBusiness has reported that it has raised $200 million in a Series F round led by Tiger Global Management. According to the company, existing investors Matrix Partners India, SoftBank Vision Fund 2 and Falcon Edge Capital have also participated in this funding round.
OfBusiness has secured this investment at a valuation of $3 billion. The company aims to gain exposure to establish its presence in new domains with several acquisitions, alliances and joint ventures in the pipeline. The startup also aims to make several strategic investments in value-added services across the supply chain. Which adds value to the products and services offered by its B2B network.
Ashish Mohapatra, CEO and Co-Founder, OfBusiness said, “India’s B2B markets are increasingly consolidating into intermediaries, financial services and manufacturers, driven by technology and access to efficient debt capital. This is driven by massive tailwinds of global demand turning to India in core sectors and consolidating supply in the big players.
The technology-enabled B2B platform OfBusines is today operational with its suite of services at 20 locations across the country. According to a report in a web portal, OfBusines is continuously expanding its footprint in India including its new foray into international imports in specific sectors.