Right before of its planned initial public offering (IPO), Fintech company OfBusiness has unveiled the launch of Nexizo.AI.
According to the announcement, this platform allows for the discovery of new opportunities, such as potential buyers, obtaining key market insights for more competitive intelligence as well as aiming to accelerate B2B commerce.
Nexizo.AI reportedly intends to support growth as well as greater efficiency for India’s small and medium enterprises (SMEs), while also focusing on supporting vital infrastructure and manufacturing industries.
As OfBusiness gets ready for a possible $1 billion IPO in the coming year, the roll-out of Nexizo.AI marks a key move toward creating a vertical commerce ecosystem that is focused on materials, finance, as well as software services.
The firm’s announcement explained:
“The OfBusiness, a multi-dimensional tech company into manufacturing, financing and aggregation business, has unveiled Nexizo.AI, a … platform and a one-stop solution for discovering new opportunities, including relevant buyers, gathering market insights for competitive intelligence, raw material price discovery, and accessing … software tools to enhance business efficiency and drive digital transformation.”
OfBusiness is a B2B commerce Fintech that reportedly offers smart procurement as well as smart financing solutions to SMEs via its technology-powered platform.
It serves as a type of gateway or channel for SMEs in the manufacturing and infrastructure segments for all raw material procurement, supplier financing, as well as project financing requirements.
SMEs are reportedly able to make use of unsecured credit limits for affordable procurement of raw materials (for example, steel, TMT, metals, chemicals, polymers, textiles, cement, along with various building materials), which the platform effectively aggregates, thus providing the aggregation benefits to Indian SMEs.
In the coming decade, India’s economy is expected to grow rapidly and SMEs will become even more important to the nation’s multi-trillion dollar economy. That’s why it is essential for the country to provide reliable financing and other vital resources to smaller businesses – which are perhaps the most important part of a country’s economy.