OfBusiness and TradeCloud partner to digitize commodity flows for overseas customers

Partnership enables customers to reduce costs, improve cash flows and mitigate security risks.

OfBusiness, the fastest-growing commodity aggregator in India, has signed an MoU with TradeCloud to leverage each other’s expertise to enable commerce with overseas customers and third parties. As part of this partnership, both OfBusiness and TradeCloud will leverage each other’s technological capabilities to market and fulfill orders for multi-commodities across its overseas customer base in metals, steel and energy markets.

“At OfBusiness, our mission is to create the best-in-class technology platform to deliver better prices, better execution, and better flexibility for our customers. Partnership with TradeCloud’s solutions will enable us to engage with our overseas customers and grow together, creating greater visibility and trust in our business which translates to tangible benefits for the ecosystem”, commented Abhishek Kaushik, Business Head, Base Metals at OfBusiness.

George Wykes, Head of India at TradeCloud explained, “OfBusiness and TradeCloud share a vision to help our customers digitize their business. We recognise our customers care most about price and cost. The combined forces of TradeCloud and OfBusiness coupled with OfBusiness’ ability to offer finance and flexibility helps customers achieve their core goals and build for the future.”

OfBusiness will explore building liquidity for its overseas customers via the TradeCloud Metals and Energy applications bringing the marketplace to every user’s device. All the stakeholders are then digitally connected around the contract, building trust and efficiency in businesses.