In a significant move ahead of its much-anticipated IPO, B2B commerce unicorn OfBusiness has raised INR 100 crore (approximately $11.7 million) from Cornerstone Ventures. The funding comes as the startup prepares to go public in the second half of 2025, highlighting its ongoing commitment to empowering small and medium enterprises (SMEs) across India.
Strategic Funding Ahead of IPO
This latest investment is part of Cornerstone Ventures’ $200 million second fund, which made its first close at $40 million in January 2025. The VC firm plans to reach its second close by the end of this year. The fund is focused on backing high-growth, tech-driven startups that are solving large-scale problems in the Indian business ecosystem.
OfBusiness’ latest funding round not only strengthens its financial position ahead of the IPO but also reinforces investor confidence in its business model and growth trajectory.
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Focus on Digital Adoption and SME Financing
OfBusiness has announced that the fresh capital will be directed toward driving digital adoption and enhancing access to financing for SMEs. The platform has consistently positioned itself as a technology-first enabler of B2B commerce, offering procurement and credit solutions to businesses across core sectors like manufacturing, construction, and infrastructure.
With a strong network of suppliers and an integrated financing arm, OfBusiness helps SMEs streamline procurement and access working capital—two critical needs in a fragmented and underserved market.
The company’s strategy is built around leveraging data and technology to underwrite risk and offer customized credit solutions, making it easier for businesses to scale efficiently. This new infusion of funds will further strengthen these capabilities, helping OfBusiness deepen its reach and expand its user base among India’s vast SME population.
Cornerstone Ventures’ Growing Portfolio
For Cornerstone Ventures, this marks a notable addition to its growing portfolio of high-potential startups. By backing OfBusiness, the firm underscores its interest in digital-first platforms that power India’s enterprise economy. The VC’s second fund is expected to focus on early- to mid-stage startups that are building scalable, tech-enabled business solutions.
With this strategic investment, Cornerstone aims to capitalize on India’s evolving B2B commerce space—an area ripe for disruption and innovation.
OfBusiness: Eyeing the Public Markets
Founded in 2015, OfBusiness has grown into one of India’s leading B2B platforms, valued at over $5 billion in its previous funding rounds. The company is now setting its sights on the public markets, with an IPO scheduled for H2 2025. This listing is expected to be a landmark event for the Indian startup ecosystem, as it will mark one of the first major IPOs from the country’s B2B commerce sector.
As it prepares for its market debut, OfBusiness continues to strengthen its financials, deepen customer relationships, and invest in technology—setting the stage for sustainable long-term growth.
