SoftBank-backed platform OfBusiness is reportedly exploring a revival of its initial public offering (IPO) plans in India, signaling renewed confidence in the for tech-enabled startups.
$5 billion
Last Valuation (Dec 2021)
⏳ Time Machine
How today’s news fits into the bigger picture
2016
OfBusiness Founded
OfBusiness (OFB Tech Pvt Ltd) was founded with a vision to streamline procurement for SMEs in the manufacturing and infrastructure sectors.
April 2021
SoftBank Leads Series D
SoftBank Vision Fund led a $110 million Series D funding round in OfBusiness, marking its significant entry into the space.
July 2021
Becomes Unicorn
OfBusiness achieved unicorn status, valued at over $1 billion, after raising $160 million in a Series E funding round, reflecting rapid growth and investor confidence.
December 2021
Achieves $5 Billion Valuation
In its Series G round, OfBusiness raised $300 million, reaching a valuation of approximately $5 billion, with SoftBank remaining a key investor.
Mid-2025
IPO Plans Deferred
Amid a global tech funding winter and volatile public markets, OfBusiness, like many other startups, chose to defer its planned initial public offering.
Today
SoftBank-backed B2B platform OfBusiness is reportedly exploring reviving its IPO plans in India.
What happens next?
OfBusiness will likely begin formal preparations for its IPO, including drafting regulatory documents and engaging with investment bankers, with a potential listing in late 2026 or early 2027.
OfBusiness, the prominent SoftBank-backed B2B e-commerce platform, is reportedly considering a revival of its plans for an Initial Public Offering (IPO) in India. This development comes after the company had previously deferred its market debut, reflecting a cautious stance amidst fluctuating market conditions. The move by OfBusiness, which achieved a valuation of approximately $5 billion in its last funding round in December 2021, indicates a potential rebound in investor sentiment towards tech-enabled startups on the Indian bourses. A successful listing could inject fresh momentum into India's primary market, particularly for high-growth, venture-backed companies looking to tap public capital.
💭 If you're wondering…
A B2B (business-to-business) e-commerce platform facilitates online transactions and procurement of goods and services between businesses, rather than between businesses and individual consumers.
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