OfBusiness valuation nearly doubles to $3 billion after Tiger Global-led funding

OfBusiness, a business-to-business (B2B) commerce startup, has raised $207 million in fresh funding led by New York-based investment fund Tiger Global.

Its valuation post-money has nearly doubled to around $3 billion from July, when Japan’s SoftBank Vision Fund II led a $160 million round .

Both SoftBank as well as Falcon Edge-managed Alpha Wave Incubation have participated in the funding round, OfBusiness cofounder and chief executive Asish Mohapatra told ET.

Tiger Global has put $150 million into the New-Delhi based startup. The company is likely to add another $15-$20 million in the existing round.

“Since SoftBank invested in us, we have grown 2.5 times by revenue. Over the last three months, we continue to grow 30% on a month-on-month basis,” Mohapatra said.