OneAssist closes $18 million Series C funding

OneAssist Consumer Solutions Pvt Ltd, one of the most comprehensive card protection and emergency services recently announced it has raised 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.

“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”.