Led · Equity · Oct 2025

JSW One Platforms operates a technology-driven B2B ecommerce marketplace where manufacturing and construction MSMEs can source steel, cement and other industrial materials while also accessing credit through the company’s growing NBFC arm. Backed by JSW Steel, the platform positions itself as an integrated procurement and financing solution, using proprietary technology to streamline sourcing, logistics, last-mile delivery and working-capital lending. In FY25 the company recorded gross merchandise value of Rs 12,567 crore, representing 2.4× year-on-year growth, and it is targeting Rs 8,000 crore GMV in the first half of FY26 while maintaining a 50%+ growth rate. Newly raised capital will fund further investment in its tech stack, expansion of distribution and logistics infrastructure, and enhanced underwriting to launch customised financial products. Management sees the NBFC arm as critical to bridging MSME working-capital gaps and plans to widen credit access on the platform. JSW One competes with OfBusiness, Jumbotail and Indiamart in India’s B2B commerce space.