Biography of Asish Mohapatra: Co-Founder & CEO of OfBusiness and Oxyzo Financial Services
Biography of Asish Mohapatra:
Asish Mohapatra, the Co-Founder and CEO of OfBusiness and
Oxyzo Financial Services Pvt Ltd, stands out as a significant figure in the
financial services industry. Asish Mohapatra, born in 1980 in Cuttack, Orissa,
embarked on his journey to becoming a prominent entrepreneur from his hometown.
His leadership at OfBusiness, a company known for its comprehensive B2B
services, and Oxyzo Financial Services, a pioneering financial solutions
provider, reflects his deep expertise in shaping innovative financial solutions
and driving growth in the sector. His early academic achievements laid a solid
foundation for his future ventures.
Early Academic Pursuits
Before his engineering and management studies, Asish
attended Ravenshaw College, Cuttack, where he completed his 10+2 education with
a focus on Physics, Chemistry, and Mathematics between 1996 and 1998. His early
education at SCB Medical Public School, where he completed his ICSE Class X
from 1992 to 1996, laid the groundwork for his academic journey and subsequent
career in finance.
Educational Background
Asish's strong educational foundation has been instrumental
in his successful career. He earned a Bachelor of Technology (B.Tech.) in
Mechanical Engineering from the Indian Institute of Technology, Kharagpur,
where he graduated in 2002. This technical background was further enhanced by
his postgraduate studies at the Indian School of Business, where he completed a
Post Graduate Program (PGP) in Management in 2006. His academic achievements
have provided him with a solid grounding in both technical and managerial
aspects, equipping him for his roles in financial services. These educational
milestones equipped him with the skills and knowledge necessary to excel in the
competitive world of entrepreneurship.
Initial Professional Experience
Asish’s early career began with a summer trainee role at
Reckitt & Colman in Kolkata in 2001. During this period, he worked on the
automation of the Cherry Shoe Polish line, gaining early exposure to process
improvement and operational efficiency.
Early Career and Professional Growth
In March 2002, Asish began his professional career at ITC
Ltd. as a Maintenance Manager and later an Operations Manager. His role
involved managing a large team of a thousand people, providing him with
invaluable experience in leadership and operations. His tenure at ITC marked
the beginning of a successful career trajectory. His responsibilities included
overseeing projects, production, quality, and logistics, which provided him
with a solid foundation in operational management and strategic planning.
Biography of Asish Mohapatra: Co-Founder & CEO of OfBusiness and Oxyzo Financial Services/Success story of Asish Mohapatra/Life story/Entrepreneur
Transition to Consulting
In 2005, Asish decided to pursue an MBA, which led him to a
significant role at McKinsey & Company. At McKinsey, he specialized in the
healthcare sector, providing consulting services to multinational corporations
and Indian companies in pharmaceuticals and medical equipment. It was during
this period that he met his future wife, Ruchi Kalra. Asish's career also
includes a significant tenure as an Engagement Manager at McKinsey &
Company from August 2006 to September 2010. At McKinsey, he specialized in the
healthcare, pharma, and medical products sectors, where he provided strategic
consulting and solutions to major industry players.
Entrepreneurial Leap
By 2010, Asish transitioned to a senior associate position
at Matrix Management Corporation. His involvement with various companies in
healthcare and portfolio management expanded his business acumen. However, in
2015, he took a bold step and founded OFB Tech Pvt. Ltd., later known as
OfBusiness. This startup aimed to simplify access to secured and unsecured credit
for SMEs. During this time, he played a crucial role as a board member and
observer for several healthcare companies, including Hearing Plus, TechMed,
Meditrina, Mewar Ortho, Enhance, Centre for Sight, and Cloudnine. His
contributions in this role were pivotal in supporting the growth and
development of these healthcare enterprises.
Founding OfBusiness
Since October 2015, Asish has served as the Co-Founder and
CEO of OfBusiness, a company that aims to revolutionize the B2B landscape
through technology. Based in Gurgaon, India, OfBusiness focuses on leveraging
technological advancements to streamline B2B transactions and enhance business
operations. Under his leadership, the company has made considerable progress,
establishing itself as a key player in the industry.
Overcoming Challenges
The journey of OfBusiness was not without its hurdles. In
2016, Asish faced rejection in 73 funding pitches, demonstrating the tough
realities of startup life. Despite these setbacks, his persistence paid off
when, in July 2021, OfBusiness secured funding from SoftBank Group Corp.,
achieving unicorn status with a valuation of around $1.5 billion.
Leading Oxyzo Financial Services
In addition to OfBusiness, Asish has been the Co-Founder of
Oxyzo Financial Services Pvt Ltd since November 2016. The company, also based
in Gurgaon, provides innovative financial solutions to businesses, further highlighting
Asish’s commitment to transforming financial services through technology and
strategic insights.
Expanding Horizons
This new venture focused on providing purchase financing to
SMEs. Oxyzo, like OfBusiness, faced its share of challenges but successfully
joined the unicorn club in March 2022, with a valuation of $1 billion and $200 million
in Series A funding.
Corporate Leadership and Influence
Asish’s leadership extends beyond his startups. In November
2020, he was licensed as an Independent Director by the Indian Institute of
Corporate Affairs. His directorships include roles in companies such as
Meditrina Hospitals Pvt. Ltd., Oagriva Alliance Private Limited, and others,
reflecting his broad influence in various sectors.
A Personal Touch
Asish’s personal life is intertwined with his professional
achievements. Married to Ruchi Kalra, he is a devoted father to their daughter,
Khushi Mohapatra. His mother, Mishra Kuku, was an IIT graduate and a physics
teacher, which highlights the intellectual environment he grew up in.
Hobbies and Interests
Outside of work, Asish enjoys indulging in sporting
activities, maintaining collections, and creative writing. His interests extend
to a love for badminton, with a particular admiration for Lin Dan, and a deep
appreciation for music, notably Shreya Ghoshal.
A Legacy of Innovation
Asish Mohapatra’s journey from a young student in Cuttack to
a successful entrepreneur with two unicorn startups illustrates a remarkable
story of perseverance and innovation. His ventures, OfBusiness and Oxyzo, have
revolutionized access to finance for SMEs, establishing him as a prominent
figure in the Indian startup ecosystem.
A timeline for Asish Mohapatra’s journey:
1992-1996: Attended SCB Medical Public School, completed
ICSE Class X.
1996-1998: Attended Ravenshaw College, Cuttack, focused on
Physics, Chemistry, and Mathematics.
2002: Graduated with a B.Tech. in Mechanical Engineering
from IIT Kharagpur.
2001: Worked as a summer trainee at Reckitt & Colman,
Kolkata.
2002-2005: Worked at ITC Ltd. as Maintenance and Operations
Manager.
2005-2006: Pursued an MBA; started at McKinsey & Company
specializing in healthcare.
August 2006 - September 2010: Served as an Engagement
Manager at McKinsey & Company.
2010: Joined Matrix Management Corporation as a senior
associate.
2015: Founded OFB Tech Pvt. Ltd. (later known as
OfBusiness).
October 2015: Became Co-Founder and CEO of OfBusiness.
2016: Co-founded Oxyzo Financial Services Pvt Ltd.
July 2021: OfBusiness achieved unicorn status with a $1.5 billion
valuation.
November 2020: Licensed as an Independent Director by the
Indian Institute of Corporate Affairs.
March 2022: Oxyzo Financial Services also achieved unicorn status with a $1 billion valuation.
Asish Mohapatra’s achievements highlight his significant
impact on the financial services sector and his journey from a student in
Cuttack to leading two unicorn startups.
