OneAssist Consumer Solutions that provides assistance and protection services to customers in wallets, cards, mobile phones and gadgets, today announced it has closed a USD 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, OneAssist said in a statement here. The investment will help OneAssist to grow the market opportunities in the categories it operates in, as well as develop new product segments, it added.
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. “Our vision for OneAssist is to build and lead the assistance and protection category by providing differentiated and very relevant services for today’s customers,” said Gagan Maini, Co-Founder and Director OneAssist.
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“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,” he added. OneAssist plans to invest its 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.