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Onsitego secured $10 million from IFC

Onsitego, an after-sales service startup, has now secured an additional $10 million in its Series B funding round from IFC.

Avendus Capital was the financial advisor to Onsitego for this transaction. The first part of the funding round was backed by the Zodius.

The startup will now going to use the new funds to consolidate its market position and strengthen its B2C offerings like home protection, AMC, and on-demand services.

Jun Zhang, Country Head India at IFC, said in a statement:

“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.”

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