OfBusiness’ Ruchi Kalra prioritises SME commerce, financing and leadership depth over valuation-led growth
OfBusiness co-founder Ruchi Kalra outlines a long-term strategy centred on SME procurement, Oxyzo-backed financing, disciplined capital allocation and internally built leadership as the B2B commerce group plans for its next decade.
What happened
OfBusiness co-founder Ruchi Kalra outlines the profitable B2B commerce group’s focus on SME procurement, financing through Oxyzo, disciplined capital deployment
Key facts
- OfBusiness founded in 2015
- Oxyzo created in 2016
- OfBusiness entered the unicorn club six years after founding
Why this matters
Strategic partners and acquirers should view OfBusiness as a vertically integrated SME commerce-and-finance platform whose leadership bench and Oxyzo linkage strengthen its ecosystem value.
What to watch
- Growth in Oxyzo assets under management, disbursements and the share of OfBusiness buyers using credit.
- Collection efficiency, gross and net NPA trends, restructuring levels and credit-cost guidance.
- Repeat procurement rates, active buyer growth and wallet share among financed versus non-financed SMEs.
- Evidence of margin improvement from cross-sell, proprietary supply relationships and lower acquisition costs.
- Senior leadership appointments, business-unit ownership changes and reductions in founder-led operational roles.
- New bank lines, securitizations, bond issuances or other indicators of durable lending-funding access.
- Any shift in language from disciplined growth toward IPO timing, valuation targets or aggressive category expansion.
- Increase penetration of financing among existing procurement customers rather than pursuing broad, subsidy-led merchant acquisition.
- Use procurement and payment data to segment SMEs by credit quality, category economics and working-capital needs.
- Build more senior internal operators across category sourcing, risk, collections, technology and regional sales.
- Prioritize capital-efficient expansion in high-repeat industrial inputs and customers with observable cash-flow histories.
- Strengthen Oxyzo funding diversity through banks, debt markets and institutional partnerships to reduce reliance on any single capital source.
- Position profitability, governance and leadership depth as prerequisites for any eventual public-market transaction rather than optimize for a near-term valuation event.