JSA advised OXYZO Financial Services Private Limited (“Oxyzo”) in its first fund raise of USD 200 million (approx. INR 1520 crores), which is the largest series-A funding ever for any Indian startup. With a valuation of USD 1 billion after the funding, Oxyzo is the latest addition to India’s growing list of unicorns. Oxyzo is the financial arm of OfBusiness, which was recently valued at nearly USD 5 billion in December 2021. Oxyzo has been carved out of OfBusiness group and has raised external capital in this round.
The round was co-led by Alpha Wave Global and Tiger Global with participation from Norwest Venture Partners, Matrix Partners and Creation Investments.
Oxyzo is a tech-enabled smart financing solution provider, which lends to SMEs for supply-chain finance and has also started lending to new age businesses in sectors like logistics, warehousing and direct-to-consumer, besides financing suppliers of OfBusiness.
Deal value: USD 200 million
JSA team comprised Lead Partner – Lalit Kumar, Partner – Bharati Joshi, Senior Associate – Amandeep Singh Virk and Associate – Zarish Ali.
Amandeep’s practice areas are general corporate commercial, mergers and acquisitions and private equity.