Mumbai based after sales service company Onesitego announced on Tuesday that it raised $30 Million as part of an extended Series B round of funding from International Finance Corporation (IFC), World Bank’s investment arm and advised by Avendus Capital. In the earlier part of this funding round that had concluded in Feb 2020 Onsitego had raised $19 Million from Avendus-sponsored Zodius Growth Fund and Accel.

The company that provides post purchase services for consumer electronics intends to utilize the fresh capital to scale up its business into newer avenues such as AMCs, home warranty, doorstep repair services, new distribution channels and in other emerging markets. “We are extremely excited to bring IFC on our cap table, which is well aligned with our DNA of providing best-in-class service to our customers. IFC brings in a strong global footprint and expertise of investments in Fintech which is valuable as we scale our business…,” said Kunal Mahipal, Founder & CEO, Onsitego.

With a client base of over six million currently, Onsitego renders extended warranty, annual maintenance contracts and damage protection plans for devices and consumer electronics. Founded in 2010 by Kunal, the company partners with online and offline electronics and appliance retailers including Croma, Vijay Sales, and Amazon India.

“India is one of the largest and fastest growing appliances and consumer electronics (ACE) markets globally, and the ACE protection market is significantly underdeveloped. There is a clear market need for innovative and customer-service-focused players like Onsitego to drive growth in this market.” He further added, “We look forward to supporting Onsitego in its growth journey by sharing our experience from emerging markets in disruptive technology and Fintech,” says Jun Zhang, Country – Head India, IFC.