OneAssist Consumer Solutions announced it has closed an $18 million Series C funding. The investment round was led by existing investor Sequoia Capital with participation from its other existing investors Lightspeed Venture Partners and Assurant Inc. along with a new investor Moonstone Investments. The investment positions OneAssist to grow the significant market opportunities in the categories it operates in as well as develop new product segments.
With increasing penetration of Smartphones, payment cards and payment mechanisms as well as new opportunities covering home appliances and gadgets, the company aims to create and strategically build on the assistance and protection category in India.
With the #DigitalIndia revolution driving India, OneAssist plans to invest it’s capital in technology, service and innovative products while being focused at enhancing Customer Experience. The company aspires to expand its reach through key partnerships, improving distribution and by increasing awareness of its products.
“We are truly delighted and humbled with the support from our investors” said Gagan Maini, Co-Founder and Director OneAssist. “Our vision for OneAssist is to build and lead the Assistance & Protection category by providing differentiated and very relevant services for today’s customers. We will continue to invest in our current segments as well as explore more products that enable our customers to be in control of their everyday critical dependencies.
“India is one of the fastest growing markets for smartphones, credit/debit card and home appliance and OneAssist is uniquely placed to tap the highly underpenetrated assistance and protection services market in India.” said Subrat Pani, Co-Founder & Director, OneAssist. As we sharpen focus for the next couple of years, we are excited to receive this investment into OneAssist from our existing and new investors to deliver on our strategy for providing innovative products and best in class services to Indian consumers”