When he began his entrepreneurial journey in 2015, the IIT Kharagpur graduate was turned down a shocking 73 times before he was able to launch his business. Nevertheless, Mohapatra persevered with the concept and succeeded, eventually earning Rs 463 crore from his business.
Before achieving success in the business world, there are numerous stages that must be overcome. Perseverance is often what separates successful startups from unsuccessful ones. The experience that Asish Mohapatra has had with OfBusiness is evidence of this.
When he began his entrepreneurial journey in 2015, the IIT Kharagpur graduate was turned down a shocking 73 times before he was able to launch his business. Nevertheless, Mohapatra persevered with the concept and succeeded, eventually earning Rs 463 crore from his business.
Who is Asish Mohapatra?
Asish, an Odisha native and IIT graduate, completed his MBA at the esteemed Indian School of Business (ISB). He spent four years working as a venture capitalist for Matrix Partners prior to launching his own company.
Asish, who works from his office in Gurugram, disclosed in the podcast that he is without a driver, assistant, or cabin. He has given up these things in order to create a work environment where freedom, equality, and community are valued.
Mohapatra's creation, OfBusiness, reached unicorn status (valuation over $1 billion) by 2021 and quickly surpassed a $5 billion valuation in a matter of months. OfBusiness offers a comprehensive platform that combines requirements for project financing, supplier financing, and acquiring raw materials, thereby serving both the manufacturing and infrastructure sectors.
Financial milestones provide a roadmap for the company's remarkable growth. Revenues increased dramatically from Rs 1757 crore in 2020–21 to Rs 7269 crore in the previous year. This explosive growth was clearly facilitated by the business's expansion into industries such as industrial goods, chemicals, and agricultural produce.
When it comes to profit after taxes, OfBusiness is intended as the first startup with a 100 million dollar PAT. With revenue surpassing Rs 15,000 crore in FY23, the company reported Rs 463 crore of profit, as per yourstory.com. His wife, who is also a co-founder of the company, is standing next to him.
The two have been crucial because of their unwavering belief in financial success in the face of opposition. Mohapatra encountered disapproval when he stated his intention to be profitable on each transaction; he was encouraged to give up on his dream. Nevertheless, he didn't waver, grounded in the revenue-generating concepts he gained from his mother, a physics professor.
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