OneAssist gets a funding from former Vodafone CEO

MUMBAI: OneAssist Consumer Solutions, which provides protection for credit cards, smartphones and payment cards in case of loss or theft, has raised an undisclosed amount from former CEO of Vodafone Group Arun Sarin.

The investment is a part of the company's Series-C fund raise held in June. That round saw the company raise Rs 118 crore (about $18 million)from Sequoia Capital, Lightspeed Ventures, New York-based insurance provider Assurant and UK-based Moonstone Investments.

"Arun Sarin's knowledge and guidance will be singularly invaluable to us as we build OneAssist into a leading assistance and protection company," said Gagan Maini, cofounder, OneAssist.

The round comes two years after the company raised $7.5 million (Rs 48 crore) in its series-B round, then led by Assurant, making it the Fortune 500 insurer's first bet in India. The company will use the capital to invest in technology for the services arm of its business as also to improve customer experience. A significant portion of the capital has been utilised in building its home appliances and elec tronics category -one that it forayed into recently.

Under its home appliances category, OneAssist offers warranty services and also assistance services through partner ships with OEMs.