SMALL AND MEDIUM enterprises (SMEs) have few dedicated institutions that they can turn to, especially in the private sector. But Gurugramheadquartered Oxyzo is a pioneer in this regard, offering cash flow-aligned lending products for buying key raw materials such as metals like steel, aluminium, copper, zinc, polymers, chemicals, and agro products (foodgrain and spices).
Started in 2018 by husband-wife duo Asish Mohapatra and Ruchi Kalra, Oxyzo Financial Services, the lending arm of B2B commerce unicorn Of Business, is a technology-enabled NBFC that caters to SMEs and emerging corporates in the core sectors.
Over time, the fintech has expanded its product suite to cater to multiple requirements of SMEs.
It also facilitates wider services beyond lending. For example, it helps in raw material purchases and technological solutions.
The seven-year-old fintech firm has grown its assets under management from ₹4,700 crore in FY23 to ₹6,700 crore in FY24 and intends to maintain a 30%-plus growth rate going forward.
The fintech firm's net profit rose 47% to ₹290 crore in FY24, from ₹197 crore in FY23, and its revenue jumped 59% to ₹904 crore in FY24 from 569 crore in FY23.
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