B2B marketplace OfBusiness, launched a mobile app to help small, medium, and micro enterprises (SMEs), traders, farmers, and distributors. Within a quarter of the app’s launch, the unicorn hopes to onboard 3-4 lakh SMEs.
OfBusiness helps SMEs in India procure raw materials, with a special emphasis on agriculture and building materials. It also provides cash-flow financing to SMEs via its financial arm Oxyzo, which became a unicorn in March of last year.
“We want to bring everything related to commodities at one place, whether it is prices, raw material tracking, raw material discovery, or getting any information related to raw materials,” OfBusiness cofounder Jain said of the app. According to Jain, there is currently too much opacity in the market, whether in pricing or news. Manufacturers, SMEs, and farmers spend 4-5 hours looking for information because there are so many different suppliers and websites.
The OfBusiness app is divided into ten categories to cater to various industries such as steel, nuts, spices, coffee, milk, and dairy, among others. Users will be able to access the most recent industry news, prices, and other information for each of the categories.
The app claims to offer over 300 materials, 500 suppliers, and over 10,000 prices. According to Jain, users can check pan-India prices of any material using the map and list views. It also provides real-time updates on raw material movement and allows users to track orders placed through it.
The unicorn is also considering using the app’s community feature to generate transactions, which will be available within 15-20 days of its launch.
Users will be able to form industry-specific groups, such as the steel community and the sugar community, to drive business conversation and transactions within the groups.
“The number of leads we will receive will be very high, and the number of people we will contact will be very large.
The goal of forming various communities is to have various interactions going on the app, such as how to get material, how to get material quickly, and how to get material at a lower cost.
This…information will boost SMEs’ overall profitability,” Jain said.
About OfBusiness
OfBusiness is an Indian B2B marketplace that provides a wide range of services and solutions to small and medium-sized enterprises (SMEs) across the country. The platform offers an extensive range of raw materials, machinery, and logistics services to businesses in various industries, such as agriculture, construction, and manufacturing.
One of the key features of OfBusiness is its unique approach to financing. It offers short-term working capital loans to SMEs based on their transaction history and business performance. This enables businesses to access funds quickly and efficiently, allowing them to grow and expand their operations.
The platform also offers a range of other services, such as supply chain management, procurement, and invoice discounting, providing a comprehensive suite of solutions for businesses. Additionally, OfBusiness has a dedicated customer support team that provides personalized assistance to businesses, ensuring that they receive the best possible experience on the platform.
Overall, OfBusiness is an innovative and comprehensive B2B marketplace that has quickly gained popularity among Indian SMEs. With its unique financing options, extensive range of services, and excellent customer support, OfBusiness is poised to become a leading player in the Indian B2B space.
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