Oxyzo Financial Services has launched a news business. The company is acting as an intermediary between lenders and SMEs. With help from banks, NBFCs, corporate and family offices, the company will put forth Rs 1630 crore every month for SMEs. It will earn a commission from this service. The profitable company currently makes a monthly revenue run rate of a million dollars per month.
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The entire company earned a net profit of Rs 197 crore in FY 2023. The company was founded by Asish Mohapatra and Ruchi Kalra. Their other company, OfBusiness, reported a profit of Rs 200 crore. Who is Asish Mohapatra?
Oxyzo raised 200 million dollars last year at a valuation of a billion dollars. OfBusiness is also a unicorn.
Both Ruchi Kalra and Asish Mohapatra are IITians. They opened their first business in 2015. OfBusiness struck a net worth of 5 billion dollars (Rs 40,870 crore).
They later did MBA from the Indian School of Business.Mohapatra once told a podcaster that he didn’t have a corner office, assistant or a driver.
This is because he wanted to promote the principles of liberty, equality and fraternity.
Talking about the culture in his office, he said no one has a fixed seat or a parking spot. All employees travel economy class and share hotel rooms with colleagues. He is from Odisha.
He and Ruchi Kalra are the only Indian couple to have built two unicorns. Ruchi looks after Oxygen whereas Mohapatra handles OfBusiness.
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Ruchi once said in an interview that their first company was rejected 73 times by investors.
They have offices in Gurgaon.
