OfBusiness is a tech-enabled platform that streamlines raw material procurement and provides credit solutions specifically for SMEs, utilizing real-time pricing data and a robust supply chain network. This addresses the challenges of high input costs and working capital shortages, empowering over one million SMEs with efficient sourcing and financing options.
Funding
$846.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
AW+16Founders
Product
Problem
Small and medium-sized enterprises (SMEs) often face challenges in procuring raw materials due to high costs, lack of price transparency, limited access to credit, and fragmented supply chains. These inefficiencies can lead to increased operational expenses and hinder growth opportunities for SMEs.
Solution
OfBusiness is a B2B platform that streamlines raw material procurement and provides access to credit for SMEs. The platform aggregates real-time pricing data for over 400,000 raw materials, including steel, aluminum, polymers, chemicals, and energy products, enabling SMEs to make informed purchasing decisions. OfBusiness also offers a credit facility to address working capital shortages, and facilitates connections between buyers and suppliers across 30+ countries. By providing a centralized platform for sourcing and financing, OfBusiness aims to reduce procurement costs and improve supply chain efficiency for SMEs.
Target Audience
The primary target audience includes SMEs and corporates in the manufacturing and infrastructure sectors seeking to optimize their raw material procurement processes and access financing options.
Features
- Access to a marketplace with over 300,000 SKUs from multiple brands.
- Real-time price discovery for a wide range of raw materials.
- Credit solutions tailored for manufacturers and contractors.
- Mobile app for order management and tracking.
- Global fulfillment capabilities for domestic and international markets.
- Digital platform providing transparency on orders and live tracking.
- Access to daily raw material news and insights.