OfBusiness financial arm Oxyzo raises $200 mn in Series A funding round

The funds will be used to expand Oxyzo's broader digital financial services play organically and inorganically across a strong own balance sheet play

OfBusiness financial arm, Oxyzo Financial Services, a tech-enabled smart financing solution provider, turned unicorn after raising $200 million in a Series A round led by Alpha Wave and co-led by Tiger Global, Norwest Venture Partners, Matrix Partners and Creation Investments.

Oxyzo started as OfBusiness Group’s financing platform that provided cash flow matched working capital financing for buying raw materials for SMEs in the traditional sectors of the economy such as manufacturing and sub-contracting. However, the company has always been a 100 per cent subsidiary of OfBusiness. Close to 75 per cent of the shareholding in Oxyzo is held by OfBusiness.