OneAssist Consumer Solutions, a company that provides users insurance against credit card, smartphone and wallet thefts, raised USD 18 million in series C funding led by existing investors Sequoia Capital, Lightspeed Venture Partners and New York-based insurance provider Assurant.
This round also saw the entry of a new investor, Moonstone Investments.
“Our vision for OneAssist is to build and lead the Assistance & Protection category by providing differentiated and very relevant services for today’s customers,” said Gagan Maini, co-founder and Director OneAssist.
OneAssist claims to cover card frauds such as skimming, phishing along with online, ATM and PIN fraud. It also offers free replacement of the PAN card and driving license. These plans cost Rs 1,300 and Rs 1,800 per year and Rs 2500 per year.
“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,” Maini added.
“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 and director, OneAssist.
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