Resilience, Rejections, and the Rise of a Unicorn Queen Ruchi Kalra

In the fast-paced world of entrepreneurship, where success stories often emerge from overcoming numerous challenges, Ruchi Kalra's journey stands out as an inspiring testament to resilience, determination, and an unwavering belief in her vision.

From IIT to McKinsey:

The Foundation of Excellence

Ruchi Kalra, an IIT Delhi alumna, laid the groundwork for her remarkable career by completing her B-Tech before pursuing an MBA at the Indian School of Business. Armed with a solid educational background, she honed her skills as a partner at McKinsey for over eight years. This experience not only equipped her with invaluable insights but also laid the foundation for her future endeavors.

Weathering the Storm:

73 Rejections and a Vision Unyielding

In 2016, Ruchi Kalra and her husband Asish Mohapatra embarked on a journey to turn their entrepreneurial dreams into reality. However, the road to success was far from smooth. A staggering 73 investors rejected their business idea. Yet, amidst the sea of rejections, they persevered with a belief that they needed just one investor to propel their vision forward. This resilience would prove to be the driving force behind their ascent.

The Birth of Unicorns: OfBusiness and Oxyzo Financial Services

In 2015, Ruchi Kalra co-founded OfBusiness, a B2B platform revolutionizing the sale of raw materials and industrial supplies. The company quickly soared to success, boasting a valuation of Rs 44,000 crore. Not content with a single unicorn, Ruchi and Asish went on to establish Oxyzo Financial Services in 2015, the lending arm of OfBusiness. This move catapulted them into the history books as the first couple in India to build two unicorns.

A Simple Strategy with Profound Results

Kalra's business strategy is elegantly simple—extract profit out of every transaction. This mantra, combined with a focus on providing financial services through Oxyzo, has yielded impressive results. The financial year 2021 witnessed OfBusiness's revenue at Rs 7269 crore, with a profit after tax of Rs 125.63 crore. Oxyzo, in the same period, experienced substantial growth, with revenue increasing from Rs 197.53 crore to Rs 312.97 crore.

Net Worth Soaring:

A Testament to Entrepreneurial Success

Despite facing rejection in the early stages, Ruchi Kalra's two unicorns are now estimated to be worth an astounding Rs 52,000 crore. Her net worth, a reflection of her entrepreneurial prowess, reached around Rs 2600 crore in 2022. This achievement serves as a beacon for aspiring entrepreneurs, showcasing that with perseverance and a steadfast commitment to one's vision, success can be achieved against all odds.

In the world of business, where challenges are inevitable, Ruchi Kalra's journey stands as a beacon of inspiration—an empowering narrative of triumph over rejection and the creation of two unicorns that have left an indelible mark on India's entrepreneurial landscape.