Debt financing
After-sales services provider OneAssist raises Rs.108-Cr from Stride Ventures
Mumbai-based post-sales service company OneAssist has raised INR 108 crore (USD 12.3 million) in a mix of equity and debt from Stride Ventures.The company has allotted 10,000 non-convertible debentures (NCDs) at a face value of INR 100,000 each and 601 compulsorily convertible preference shares (CCPS) at INR 1,33,160 apiece to Stride Ventures.Founded in 2011 by Subrat Pani and Gagan Maini, OneAssist is a subscription-based assistance and protection platform, offering services such as wallet and credit card loss coverage, extended warranties, repairs, and protection for mobile phones and home appliances.
Between Jul 2011 and Feb 2019, OneAssist Consumer Solutions had attracted about USD 42 M from Arun Sarin Family, Lightspeed Ventures, Moonstone Investments, Peak XV Partners, Trifecta Capital and others.For FY24, OneAssist Consumer Solutions had reported about INR 509 Cr in Operating Income and about INR 24 Cr in Net Loss.
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