Onsitego raises $10 mn from IFC; closes series B round at $30 mn

The first tranche of the round was closed in February 2020 with participation from Zodius and existing investor Accel Partners. "The funding will be utilised for consolidating its market position in the after-sales services industry, and strengthening its B2C offerings like AMC, home protection and on-demand services," the statement said..

After-sales services firm Onsitego on Tuesday said it has closed series B capital raising round at USD 30 million (about Rs 220 crore) after funding from International Finance Corporation (IFC). Onsitego founder and CEO Kunal Mahipal said the company has raised around USD 10 million from IFC.

"IFC brings in a strong global footprint and expertise of investments in Fintech which is valuable as we scale our business by expanding new business lines like AMCs, home warranty, doorstep repair services, new distribution channels and in other emerging markets," Mahipal said in a statement. The first tranche of the round was closed in February 2020 with participation from Zodius and existing investor Accel Partners.

"The funding will be utilised for consolidating its market position in the after-sales services industry, and strengthening its B2C offerings like AMC, home protection and on-demand services," the statement said..

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