Overview

Launched in 2015, OfBusiness aims to empower small and medium enterprises (SMEs) by providing them with easy access to credit and procurement services. The platform bridges the gap between SMEs and suppliers, making it easier to buy raw materials and manage working capital.

Business Model and Offerings

OfBusiness operates as a B2B marketplace for raw materials like steel, cement, and chemicals. Additionally, it offers financing solutions tailored to SMEs through partnerships with banks and financial institutions. Their tech-driven approach ensures transparency and efficiency.

Impact

By providing SMEs with credit and procurement solutions, OfBusiness has played a pivotal role in improving their operational efficiency. This has empowered smaller companies to compete with larger players.

Challenges

The primary challenge lies in assessing the creditworthiness of SMEs, which often lack formal financial records. OfBusiness addresses this through data analytics and AI.

Future Outlook

OfBusiness plans to expand its reach in rural and semi-urban areas while introducing more tech-enabled services for SMEs.