OneAssist raises US$18M to offer protection for your wallet, payments cards and smartphones in case of loss or theft
If your phone is lost or damaged, all you need to do is call OneAssist and it will do everything from blocking your SIM to securing data through an app
OneAssist Consumer Solutions, a company providing consumer-friendly assistance and protection programmes in India, has raised US$18 million in Series C round of funding led by existing investor Sequoia Capital India, as per documents filed with the Registrar of Companies.
Other existing investors Lightspeed Venture Partners and Assurant, a New York-based company providing specialty protection products and services, also contributed to this round.
OneAssist will use the fresh capital to invest in technology for the services arm of its business and also to build new partnerships and expand into newer categories, says an Economic Times report quoting Co-founder Maini.
In 2015, OneAssist had secured US$7.5 million in Series B round of funding led Assurant.
Founded in 2011 by Subrat Pani and Gagan Maini, OneAssist offers solutions to individual customers to assist and help protect data in the event of the loss of critical ‘everyday’ products such as wallets, payment cards and smartphones. If a customer’s phone is lost or damaged, all the customer needs to do is call OneAssist and it will do everything from blocking their SIM to securing their data through an app (anti-virus, lock and wipe on one call), providing theft and damage insurance protection, including doorstep services to pick-up and repair the phone, giving a standby handset apart from other services related with the customer’s smartphone.
The Mumbai-headquartered firm recently forayed into the home appliances and electronics segment.
In addition to protection for cards and physical wallets, OneAssist also offers repair and protection services for mobile phones, laptops and tablets. It is now looking to expand into the services side for home appliances and white goods.
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