Cornerstone Ventures Backs OfBusiness with Rs 100 Crore Investment for B2B Growth

Cornerstone Ventures has invested Rs 100 crore in OfBusiness, a B2B commerce platform, marking its first investment from a new USD 200 million fund. The funding aims to boost India's SME sector through integrated digital commerce and supply chain financing, with OfBusiness focusing on key industries.

Cornerstone Ventures has taken a significant leap by investing Rs 100 crore into OfBusiness, a prominent B2B commerce and supply chain platform, this Wednesday.

This financial injection is the first from Cornerstone's new USD 200 million fund, introduced in April 2024, showcasing confidence in India's SME sector.

Vatsal Bavishi from Cornerstone Ventures Fund expressed optimism about OfBusiness's ability to integrate digital commerce and supply chain financing effectively, offering SMEs transparent pricing, seamless transactions, and custom credit solutions, thus transforming the fragmented trade market.

(With inputs from agencies.)