Exclusive: Peak XV-backed OneAssist to raise Rs 108 Cr from Stride Ventures

Peak XV-backed post sales service company OneAssist is all set to raise Rs 108 crore ($12.3 million) in a mix of debt and equity from Stride Ventures. This is the first debt funding for the company in four years since it raised around $33 million funding from RSCo.

OneAssist’s board has approved a special resolution to raise Rs 108 crore, as per its RoC filing. The 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, along with Rs 8 crore via 601 CCPS issued at Rs 1,33,160 apiece.

Each debenture will carry a coupon rate of 14.2% per annum, and the firm plans to use the proceeds for general corporate purposes, the filing said.

As per Entrackr’s estimates, OneAssist will be valued at around Rs 1,978 crore or $225 million post-allotment.

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.

According to startup data intelligence platform TheKredible, OneAssist raised over $75 million from investors including Peak XV Partners, Lightspeed and RSCO.

For the fiscal year ended March 2025, the Mumbai-based firm posted 22% growth in its operating revenue to Rs 623 crore in FY25 from Rs 509 crore in FY24. During the period, it reported 56% reduction in its net loss to Rs 11 crore, as per its provisional financial statement sourced from company filings.

OneAssist competes with Servify, Onsitego, Syska Gadget Secure and ZurePro.