Ruchi Kalra is a name that through her hard work and struggle has created two unicorn companies whose valuation has crossed Rs 52000 crore. Her story is a journey from failure to success, which gives us a true insight into her greatness.
Ruchi Kalra’s journey to success began with her academic excellence, she completed her B.Tech from the prestigious IIT Delhi, followed by an MBA from the Indian School of Business. With an extensive educational base, she embarked on a professional trajectory that ultimately steered her towards entrepreneurship. With this, Kalra worked as a partner for McKinsey for more than eight years.
After accumulating invaluable expertise as a partner at McKinsey for more than eight years, Kalra made the bold leap into entrepreneurship. In 2015, she became a co-founder of OffBusiness, a specialized B2B platform dedicated to raw materials and industrial supplies distribution. Despite encountering numerous hurdles and setbacks during the initial phases, such as investor rejections and industry scepticism, Kalra persevered with unwavering determination in her quest for triumph.
Kalra’s strategic vision led OfBusiness to a valuation of ₹44,000 crore and established it as the top unicorn in India’s B2B e-commerce. Her focus on profitability and innovation transformed the industry. Undeterred by success, she co-founded Oxygen Financial Services in 2017, a leading fintech solution for SMEs. With a historic funding round of $200 million, Oxygen became India’s first dual-led unicorn led by Kalra. Their innovative loan products empower SMEs, strengthening Kalra’s reputation as a visionary entrepreneur.
In FY 2021, the company’s revenue was Rs. 197.53 crores, rising to Rs. 312.97 crores the next year. Their profits increased from Rs. 39.94 crores to Rs. 60.34 crores over the same period. OfBusiness recorded a revenue of Rs. 7269 crores in FY-22, with a post-tax profit of Rs. 125.63 crores. Despite initial rejection by 73 investors in 2016, they found success with just one investor. Their two unicorns are valued at Rs. 52,000 crores, and their total assets in 2022 amounted to approximately Rs. 2600 crores, showcasing their entrepreneurial triumph.
