Onsitego has raised capital from International Finance Corporation (IFC) in an extension to its Series B investment round which closes at $30 million. In February, the first tranche was raised of $19 million, led by Zodius with participation from existing backer Accel Partners. The fund will be utilised for consolidating its market position in the after-sales services industry, and strengthening its consumer offerings like annual maintenance contract (AMC), home protection and on-demand services, the company said in a statement. The World Bank Group also includes International Finance Corporation (IFC) as its member.

“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,” said Kunal Mahipal, founder and CEO, Onsitego.

In India, the service industry has fragmented and suffers from a quality issue such as lack of transparency and time-bound services delivery. Usually, Onsitego has aimed to plugs all the gaps between customer services by leveraging pan India networking of authorised brands’ service centres. The startup works in collaboration with online and offline electronics and appliance retailers in India like Croma, Vijay Sales, Amazon well as consumer finance players like HDB Financial Services to offer their extended warranty and damage protection plans.