OneAssist Secures Rs 108 Crore Funding with Support from Peak XV

OneAssist, a post-sales service company backed by Peak XV, is prepared to raise Rs 108 crore (approximately $12.3 million) through a combination of debt and equity from Stride Ventures. This marks the company’s first debt financing in the past four years, following approximately $33 million raised from RSCo.

Details of the Funding Round

According to a recent filing with the Registrar of Companies, OneAssist’s board has approved a special resolution for raising Rs 108 crore. This round includes Rs 100 crore through the issuance of 10,000 non-convertible debentures (NCDs) at a face value of Rs 1,00,000 each, alongside Rs 8 crore from 601 compulsorily convertible preference shares (CCPS) issued at Rs 1,33,160 each. Each debenture will feature a coupon rate of 14.2% per annum, with the funds aimed at supporting general corporate needs, as stated in the filing.

Valuation and Growth Trajectory

As estimated by Startup Superb, OneAssist is poised to be valued at approximately Rs 1,978 crore, or $225 million, following the allotment of these funds. Established in 2011 by Subrat Pani and Gagan Maini, OneAssist operates as a subscription-based assistance and protection platform, providing services such as coverage for lost wallets and credit cards, extended warranties, repairs, and protection for both mobile devices and home appliances.

Investor Backing

Various data intelligence platforms indicate that OneAssist has raised over $75 million from significant investors, including Peak XV Partners, Lightspeed, and RSCO.

Financial Performance

For the fiscal year ending March 2025, the Mumbai-based company reported a 22% increase in its operating revenue, rising to Rs 623 crore in FY25 from Rs 509 crore in FY24. During this period, OneAssist also achieved a 56% decrease in its net loss, now standing at Rs 11 crore, as per provisional financial statements sourced from company filings.

Competitive Landscape

In its operating sector, OneAssist competes with several other service providers, including Servify, Onsitego, Syska Gadget Secure, and ZurePro.