Fintech unicorn Oxyzo has secured Rs 100 crore (roughly $12 million) in obligation from AK Capital Finance, a backup of merchant banker A.K. Capital Services Ltd.

The boards at Oxyzo apportioned 1,00,000 non-convertible debentures to AK Capital at an issue cost of Rs 10,000 each to raise Rs 100 crore, its administrative recording sourced from the Registrar of Companies shows.

The previously mentioned debentures are issued for a tenure of 24 months and carry an intrigued rate of 9.75% per annum, the recording included.

The continues will be utilized to increase the long-term assets of the company and meet working capital necessities.

Oxyzo is the loaning arm of B2B e-commerce unicorn Of Business, giving customized credit arrangements for SMEs. It offers a run of credit items, counting term advances, working capital arrangements, low-interest rates, and collateral-free credit alternatives.

Concurring to information insights stage TheKredible, the Gurugram-based company detailed working income of over Rs 900 crore and a benefit of Rs 290 crore for the budgetary year finishing 2024.

Oxyzo's net benefit developed 11.38% to Rs 82.89 crore and deals hopped 27.43% to Rs 282.80 crore within the quarter finished December 2024 (Q3 FY25), compared to Rs 221.93 crore in December 2023.

The Ruchi Kalra-led firm accomplished unicorn status by raising $200 million in its to begin with outside subsidizing round, and it got to be the primary startup to surpass a $1 billion valuation amid its Arrangement A round.

As per TheKredible, OFB group counting promoters holds 74.5% whereas Alpha Wave is the biggest outside stakeholder with 7.4% taken after by Tiger Global.