B2B ecommerce unicorn OfBusiness’ lending arm Oxyzo Financial Services has launched its maiden credit fund as part of its alternative investment platform. The fund, called Oxyzo Credit Fund I (OCF-I), will invest in mid-sized, investment-grade companies looking for growth capital. 

The fund will focus on secured debt and target performing credit opportunities with an aim to generate steady, risk-adjusted returns while protecting capital.

OCF-I is managed by Oxyzo Investment Manager Private Limited, a wholly owned subsidiary of Oxyzo. The investment manager began operations in July 2025 and received approval for its first fund in November 2025. 

The fund has completed its first close and has already started deploying capital. Its backers include high-net-worth individuals, family offices and institutional investors.

Oxyzo Investment Manager plans to scale its overall fund management business to around ₹3,000 Cr over the next four to five years across multiple strategies.

Founded in 2016 by Ashish Mohapatra, Bhuvan Gupta, Ruchi Kalra and Vasant Sridhar as the lending arm of OfBusiness, Oxyzo provides loans to SMEs for buying raw materials and machinery and meeting their supply chain & working capital requirements. 

The NBFC reported a 16.7% YoY increase in its net profit to ₹339.15 Cr in FY25, while its operating revenue grew 33.7% to ₹1,207.44 Cr. 

Notably, Oxyzo turned unicorn in 2022 after raising $200 Mn from Alpha Wave Global and Tiger Global. It has raised more than $264 Mn to date from the likes of Z47, Hinduja Leyland Finance, AK Capital, among others. 

Meanwhile, its parent OfBusiness is gearing up for an IPO. The company converted into a public entity earlier and rechristened itself as OFB Tech Limited as part of its listing plans.However, it is yet to file its DRHP with SEBI.

In December, OfBusiness cofounder and CBO Nitin Jain stepped down from his role, saying he was “moving on” from OfBusiness and Oxyzo.

On the financial front, OfBusiness reported a 30% rise in net profit to ₹603 Cr in FY24 from ₹463.2 Cr in the previous fiscal year. Operating revenue grew over 25% to ₹19,296.3 Cr during the year from ₹15,342.6 Cr in FY23. 

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