New Delhi, July 19 (KNN) Gurugram based SME lending platform OfBusiness has raised Rs 200 crore in series C round of funding from Creation Investments and Falcon Edge.

The funding round also saw participation from the company’s existing investors Matrix Partners India and Zodius Capital.

The company will use the fresh capital for continued rapid growth, greater financial leverage and scaling a robust profitable model.

Speaking about this, Asish Mohapatra, Co-founder and CEO, OfBusiness said with monetary companies’ companions as Creation Investments and the proper value of capital by way of our debt traces, we’ll proceed to bundle progressive lending and procurement options to handle the rising wants of SMEs in India.

Tyler Day, Director at Creation Investments said that OfBusiness has constructed a formidable suite of financing options tailor-made for the wants of SMEs within the manufacturing and infrastructure sectors, segments largely underserved by banks and conventional NBFCs.

Vikram Vaidyanathan, Managing Director, Matrix India said, OfBusiness captures the SME’s want for repetitive buy finance with a singular enterprise mannequin.

 Their proprietary knowledge benefit is mirrored within the rising efficacy of underwriting, he added.

OfBusiness was founded by Asish Mohapatra, Bhuvan Gupta and Ruchi Kalr in 2015. It is a technology-driven SME financing platform provides flexible, hassle free and instant approval SME business loans, unsecured credit loans.