Gurugram-based lending company Oxyzo Financial Services is looking to acquire Rainmatter-backed GoldenPi Technologies, an online bond distribution platform, the company said in a note on May 19.
Oxyzo is the financial arm of B2B ecommerce unicorn startup OfBusiness.
Through the acquisition, Oxyzo, which is primarily focused on small and medium enterprise lending, will get an opportunity to enter the larger wealth management and fixed-income investment space.
In its note, Oxyzo said that it has assets under management (AUM) of Rs 10,700 crore and had launched a private credit fund in March.
“This will enable us to significantly enhance our fixed income offerings and capture a larger share of the fast-growing debt investment market. We believe the unified enterprise, with the right focus and investment, is perfectly positioned to create substantial value for all stakeholders,” said Anuj Sharma, business head, fixed income, at Oxyzo Financial services.
Founded in 2017 by Abhijit Roy and Samir Baran Pratihar, GoldenPi has raised $3 million since inception and counts Zerodha’s venture fund Rainmatter, Sankhya Financial Services and others as its investors.
GoldenPi enables retail investors to invest in fixed-income debt instruments such as listed corporate bonds, government bonds, fixed deposits, and non-convertible debenture (NCD) IPOs — asset classes that were largely limited to institutional investors earlier.
The company operates as a Sebi-registered Online Bond Platform and has built a base of 16 lakh users, who have cumulatively invested Rs 6,000 crore through the platform since inception.
