Fintech Unicorn 'Oxyzo' gets Rs. 100 crore Debt from AK Capital Finance
An estimated $12 million, or Rs. 100 crore, in debt has been obtained by fintech unicorn Oxyzo from AK Capital Finance, a division of merchant banking A.K. Capital Services.
According to Oxyzo's regulatory filing obtained from the Registrar of Companies, the boards granted AK Capital 1,00,000 non-convertible debentures at an issuance price of Rs. 10,000 apiece in order to raise Rs. 100 crore.
According to the filing, the aforementioned debentures have a 24-month term and an annual interest rate of 9.75%.
The money raised will be utilized to cover working capital needs and enhance the company's long-term assets.
The banking division of B2B e-commerce startup OfBusiness, Oxyzo, offers SMEs tailored finance solutions. It provides a variety of loan products, such as low-interest rates, working capital solutions, term loans, and credit choices without collateral.
The Gurugram-based business generated operational revenue of over Rs. 900 crore and a profit of Rs. 290 crore for the fiscal year that ended in 2024, according to data intelligence platform TheKredible.
In the quarter that ended in December 2024 (Q3 FY25), Oxyzo's net profit increased 11.38% to Rs. 82.89 crore, while sales increased 27.43% to Rs. 282.80 crore, up from Rs. 221.93 crore in the same period the previous year.
By raising $200 million in its first external investment round, the Ruchi Kalra-led company became a unicorn. It was also the first business to attain a $1 billion value in its Series A round.
According to TheKredible, Alpha Wave is the biggest external stakeholder with 7.4%, while the OFB group, including promoters, owns 74.5%.
According to TheKredible, OFB group including promoters holds 74.5% while Alpha Wave is the greatest external investor with 7.4% followed by Tiger Global.
According to Oxyzo's regulatory filing obtained from the Registrar of Companies, the boards granted AK Capital 1,00,000 non-convertible debentures at an issuance price of Rs. 10,000 apiece in order to raise Rs. 100 crore.
According to the filing, the aforementioned debentures have a 24-month term and an annual interest rate of 9.75%.
The money raised will be utilized to cover working capital needs and enhance the company's long-term assets.
The banking division of B2B e-commerce startup OfBusiness, Oxyzo, offers SMEs tailored finance solutions. It provides a variety of loan products, such as low-interest rates, working capital solutions, term loans, and credit choices without collateral.
The Gurugram-based business generated operational revenue of over Rs. 900 crore and a profit of Rs. 290 crore for the fiscal year that ended in 2024, according to data intelligence platform TheKredible.
In the quarter that ended in December 2024 (Q3 FY25), Oxyzo's net profit increased 11.38% to Rs. 82.89 crore, while sales increased 27.43% to Rs. 282.80 crore, up from Rs. 221.93 crore in the same period the previous year.
By raising $200 million in its first external investment round, the Ruchi Kalra-led company became a unicorn. It was also the first business to attain a $1 billion value in its Series A round.
According to TheKredible, Alpha Wave is the biggest external stakeholder with 7.4%, while the OFB group, including promoters, owns 74.5%.
According to TheKredible, OFB group including promoters holds 74.5% while Alpha Wave is the greatest external investor with 7.4% followed by Tiger Global.
