Mumbai-Based consumer solution company, OneAssist is a platform which provides protection for credit cards, smartphones and payment cards in case of loss or theft. As per the reports, the company has raised ₹118 Crore ($18 million) in series-C round from the existing investors Sequoia Capital India and Lightspeed Venture Partners and New York-based insurance provider Assurant. UK-based Moonstone Investments also showed their presence as a new investor.
Gagan Maini, cofounder of OneAssist mentioned that “the company will use the capital raised to invest in technology for the services arm of its business and also to build new partnerships and spread into newer categories. We have just forayed into the home appliances and electronics segment and that’s where we will focus our efforts,” Although he declined to reveal the exact user base. We are looking at getting into the services side for home appliances and white goods. We will look at working with leading OEMs in the space going forward.”
The company is eyeing on to generate more revenue and to make 2X growth in sales through this new category.