Ruchi Kalra is one of the most successful women in the Indian business world. In fact, she is one of the self-made women entrepreneurs changing the business dynamics and becoming a source of inspiration for many aspiring women entrepreneurs. She has literally broken the glass ceiling and stereotypes by getting a Unicorn status for her startup called Oxyzo and OfBusiness. With an evaluation of over $1 billion and a personal net worth of around Rs. 2600 crore, she is making headlines in the business and social media worlds.
The power couple started their journey in the world of business without getting affected by the fact that they were rejected by over 73 investors.
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Ruchi Kalra’s Net Worth & Growth Chart
An IITian and resident of Gurugram who co-founded the successful startups along with her husband, Ashish Mohapatra has now become the talk of the town. She has managed to get an incredible evaluation for her two startups. The evaluation for her two companies is around Rs. 52,000 crore. She along with her husband has not only overcome multiple hurdles but also did a lot of hard work to achieve such a whooping evaluation that many startups long for.
The duo started the company OfBusiness in the year 2015 which works on the Business-to-Business model. The online business deals in selling all types of raw materials, industrial supplies, etc. to all types of businesses. They started with a small team of 3 people, including Nitin Jain, Bhuvan Gupta, Vasant Sridhar, etc.
Fortunately, their revenue and profits spiked from INR 1349 crore in FY21 to a whopping $5 billion by the end of FY22. Their operating revenue jumped to Rs. 6363 crore.
Moreover, the company’s growth incredibly jumped from Rs. 19.76 in the financial year 2021 to Rs. 125.63 crore in the financial year 2022.
After tasting the success in the first company, Ruchi Kalra started the second company called Oxyzo Financial Services in 2016. It now successfully funds OfBusiness and already raised Rs 1527 crore in the month of March at a staggering valuation of $1 billion.
The best part is that the firm has been going strong with each passing day. In fact, it’s still going in profits and already served over 300 SMEs all over India by the end of the financial year 2022. They closed the last year with an operating revenue of over Rs 311 crore.
Oxyzo has now become a leading platform that offers funds to small businesses and buyers right from their online platform.
Ruchi Kalra’s Biography
Ruchi Kalra did her schooling at General Raj School in Delhi. After completing her schooling, she did her BTech in chemical engineering from the prestigious Indian Institute of Technology, Delhi, in 2004. After that, she did MBA right from the Indian School of Business in Hyderabad.
She married Ashish Mohapatra whom she met while working at McKinsey. The couple has a cute little daughter named Khushi.
Know Ruchi Kalra’s Career as an Employee & Entrepreneur
She started her career with Evalueserve as a senior business analyst right after graduating from IIT. She worked for the company for over 1.5 years before moving to Hyderabad to do MBA. Right after that, she started working with a reputed company called Mckinsey right from her college placement. For Mckinsey, she worked for over 9 years in the financial domain, especially retail banking, and insurance. In this company, she gained a lot of experience and exposure. Before leaving the company, she also became a partner.
After that, her journey as an entrepreneur started with a bang. In 2015, she started her own company which is a fintech startup OfBusiness with a small team of 7 people. However, she started her company along with her husband who also worked with her in Mckinsey. It’s a B2B firm offering industrial supplies and raw materials to various small businesses.
Within a short time, the company reached an incredible valuation of Rs. 44,000 crore. After that, she never looked back and headed towards the launch of yet another startup called Oxyzo which is a platform to offer financial services to small businesses. It also acts as a funding source for OfBusiness and raises over 200 million dollars right at the valuation of $1 billion. Hence, both startups made the couple a unicorn holder in India. They became the first couple who have two unicorn companies in their name.
The interesting fact is that the fundraising round was led by Tiger Global Management, Alpha Wave Global, Norwest Venture Partners, Creation Investments, and Matric Partners. It was the biggest series-A funding to date for any Indian startup.
How Ruchi Kalra Revolutionised the Financial Services Sector?
Ruchi Kalra’s unicorn status has revolutionized the financial services sector like never before. She is one of the rarest women entrepreneurs in India who gained unicorn status. Both companies have received unicorn status at such an early stage without incurring losses to investors. Her incredible business acumen and an aim to earn profit from every transaction have made her the talk of the town in no time. The couple pays attention to the profitability without worrying a little about anything. They don’t follow the trend. In fact, they work on unique strategies to bring profits for their firms, investors, and everyone involved in the business.
Ruchi Kalra’s Interesting Facts
- Ruchi Kalra was one of the top contenders to the Business World’s Disrupt 40 Under 40 List.
- She was also admired by one of her investors, Norwest for being the first female entrepreneur in India who runs a profitable and unicorn titled fintech company.
- Her startup was rejected by over 72 investors during the starting days. However, she didn’t lose hope and kept making efforts.
- In various lectures and talk shows, she pays attention to the profit part. She always says that profits can easily exist with growth. By taking profits for granted, no company can grow in the right manner.
- Due to her incredible work and business acumen, she also worked as a partner for McKinsey before leaving the company.
- Her both companies are Gurugram based and managed by the couple.
Ruchi Kalra’s Interview –
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