First-order effects

• Tiger Global takes the lead position in an Indian B2B commerce-and-financing asset just ten weeks after SoftBank set the prior mark, with the company's valuation doubling to $3B without any intervening product or market event reported.
• OfBusiness gains a war chest sized for consolidation in SMB procurement and embedded lending, where its own financing arm is the differentiator against pure marketplaces.

Second-order effects

• Rival SMB marketplaces such as Solv must now raise and deploy faster to keep pace with a competitor that can underwrite its own transactions, pushing B2B commerce funding toward bundled credit-plus-commerce models.
• Tiger Global's repeated lead roles across India commerce deals concentrate pricing power for late-stage rounds in fewer hands, compressing founders' negotiating timelines between rounds.

Third-order effects

• The split is already visible downstream: OfBusiness's lending arm Oxyzo later raised its own $200M round at a $1B valuation, suggesting embedded-finance subsidiaries will be recapitalized separately rather than folded into marketplace valuations.
• The same Tiger Global that doubled this valuation was later reported cutting Superhuman's by 45%, so rounds priced at this cadence carry marked-to-market risk if cross-border growth capital retreats.