Back in March 2022, the Oxyzo Company was a shining star in the news headlines. Why? For being one of the top 10 profitable startups in the country. It began its journey as a startup to provide financial solutions to small and medium enterprises, mainly serving the manufacturing sector. Oxyzo is a financial arm of OfBusiness which is a B2B commerce marketplace. It was founded by Asish Mohapatra in 2016. Another notable point is Oxyzo funding! It was funded by five leading venture capitalists.
So let’s cover the funding, valuation, and shareholders breakdown of Oxyzo below.
As per the latest information available, Oxyzo is valued at $963 million (Rs.7,896 crore). Also, it raised $ 200 million from its single funding round. The first (also latest) funding of Oxyzo was held on March 23, 2022, from the series A round.
Let’s look at the shareholding pattern of Oxyzo-
|Shareholder’s Name||Percentage of Shares Owned|
|OFB Group including promoters||74.15%|
|Alpha Wave Global||7.40%|
|Other (including ESOP)||6.25%|
The largest shareholder of Oxyzo is OFB Group. Other shareholders include famous venture capital companies like Alpha Wave, Tiger Global, Norwest Capital, etc.
Funding so far & Valuation
So far, Oxyzo has raised a whopping amount of $200 million through only one funding round. Five investors are involved in the funding rounds of Oxyzo. And out of them, three are the lead investors. Oxyzo held its latest funding round on 23rd March 2022. It raised a huge sum of money through the Series A round. The following table will provide you with information about the other potential investors of Oxyzo.
Let’s look at the latest funding round of Oxyzo–
|Venture Capitalist||Funding Amount||Date|
|Alpha Wave Global||Rs.1,640 crores ($200 million)||March 23, 2022|
|Norwest Venture Partners|
|Tiger Global Management|
|Creation Investments Capital Management, LLC|
|Matrix Partners India|
As of now, the firm hasn’t disclosed the funds given by the individual entities (VS). It has only mentioned the amount of funds it raised from Series A funding round.
As per the latest report, the valuation of Oxyzo is $963 million (Rs.7,896 crore)
Is Oxyzo Profitable?
Now, the obvious question that you may ask is about the company’s profitability. “Is Oxyzo profitable in spite of raising enormous funds and with a valuation of $963 million?” You will get the answer after looking at the following data–
|Oxyzo Financials (FY 23)||Amount (in crores)|
|Market Valuation||Rs.1,640 crores ($963 million)|
|Revenue Earned||Rs.570 crore|
|Profit/Loss||Profit of Rs.197.3 crore|
So, Yes! Oxyzo was profitable in FY23. Do you know it is one of the top 10 profitable startups in India? It continued to make profits since FY21.
Oxyzo earned revenue from the following sources-
|Interest Income||Rs.537 crore|
|Fees and Commission||Rs.24 crore|
|Other Operating Income||Rs.9 crore|
Now look at the following expenses of Oxyzo-
|Finance Cost (Interest)||Rs.183.3 crore|
|Employee Benefits||Rs.78 crore|
|Impairment on Financial Instruments||Rs.27.7 crore|
|Other Expenses||Rs.20.04 crore|
Oxyzo funding as well as the financials are quite impressive. It represents the efficiency of its business model as it continued to make profits for the last three years. Profitability is an essential factor to earn the trust of VCs, investors, and customers.
Although it started as a financing platform soon after it expanded by a diversified products suite with a larger customer base including SMEs and mid-corporates to thrive in the modern economy.