Oxyzo Financial Services has raised $200 million, marking its entry into the billion dollar startups club.OfBusiness also joins Ola and InMobi in the list of companies that have at least two unicorns under their banner.- This is the first external round raised by Oxyzo, which was initially started as OfBusiness’ financing platform and was later made into a separate entity.
Ola and Ola Electric come under ANI Technologies’ banner, whereas InMobi and Glance are under InMobi Technology Services.
A unicorn, in startup parlance, is a company valued at or over a billion dollars. So far this year, Mamaearth, Lead School, DealShare, Livspace, Uniphore and Amagi are among the few startups that have been valued over a billion dollars.
Oxyzo Financial Services’s Series A round was led by Alpha Wave. Tiger Global, Norwest Venture Partners, Matrix Partners and Creation Investments also co-led the round.
This is the first external round raised by Oxyzo, which was initially started as OfBusiness’ financing platform and was later made into a separate entity. This is not only the largest Series A round ever for an Indian startup, but Oxyzo has also become the first startup to turn into a unicorn at a Series A round itself.
OfBusiness had entered the unicorn club last year in July, after it raised a $160 million round led by SoftBank. The seven-year-old company helps the country's small and medium businesses (SMEs) in getting raw materials online.
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