Avendus Advises Ofbusiness on Series C Funding of Inr 200 cr, Led by Creation Investments and Falcon Edge.

We are great believers in the potential of SME lending in India towards the core sectors of the economy that have high dependence on traders and distributors for working capital. With financial services partners such as Creation Investments and the right cost of capital through our debt lines, we will continue to bundle innovative lending and procurement solutions to address the growing needs of SMEs in India.

We are thrilled to partner with the OfBusiness team for the Company’s next stage of growth. OfBusiness has built an impressive suite of financing solutions tailormade for the needs of SMEs in the manufacturing and infrastructure sectors, segments largely underserved by banks and traditional NBFCs. The scale and profitability that OfBusiness has achieved in such a short time is both a testament to the Company’s innovative products and the untapped potential of the SME sector in India. We are excited about the Company’s future and the opportunity ahead.

OfBusiness captures the SME’s need for repetitive purchase finance with a unique business model. Their proprietary data advantage is reflected in the increasing efficacy of underwriting and support from marquee banking partners. We’re privileged to partner at an early stage with Asish, Ruchi and Bhuvan to create an SME financial services platform and welcome the new investors to the partnership.

We believe OfBusiness is at the forefront of using technology to provide SME-centric product offerings to solve the twin problems of procurement and financing faced by the Indian ecosystem. The backing from Creation and Falcon Edge is testament to the potential of this industry and the unique business that the OfBusiness team has built, setting new benchmarks for SME lending in India while creating superior stakeholder value.