OfBusiness co-founder Nitin Jain steps down after a decade
18 Dec 2025, 10:47 AMJain said that he is taking a moment to reset and added "something big is upcoming."
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Nitin Jain, co-founder and chief business officer of B2B e-commerce platform OfBusiness and its financing division Oxyzo, has announced his exit.
"It’s an emotional moment to announce this: after a decade built on nothing but grit, relentless ambition, and sheer will, I am moving on from OfBusiness, Oxyzo," said Jain in a LinkedIn post.
"As for what's next? The fire still burns brighter than ever. I’m taking a moment to reset, but watch this space closely. Something big is upcoming," he added.
According to industry reports, Jain had initially planned his departure last year and briefly stepped down from the CBO position before returning temporarily while engaging with potential investors for his upcoming project.
Established in 2016 by Jain alongside Asish Mohapatra, Ruchi Kalra, Vasant Sridhar, and Bhuvan Gupta, OfBusiness operates as a platform offering raw material procurement and financing services to small and medium enterprises in the manufacturing and infrastructure sectors.
The company has secured over $650 million in funding through multiple rounds, including a substantial $325 million raise led by Alpha Wave, Tiger Global, and SoftBank that valued the business at $5 billion.
OfBusiness is reportedly preparing for a public listing worth up to $1 billion, combining new share issuance with an offer for sale. The company has already taken steps toward going public by converting to a public entity structure.
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