The content in this post has been approved by the organization it is based on.
All of us know how difficult and cumbersome process it is to avail after-sale services after our manufacturer's warranty is over. Even after a lot of follow-ups and calls, seldom is there a chance for the consumers to avail of top-notch after-sale services. To provide a constructive solution to this problem, Kunal Mahipal launched OnesiteGo in the year 2010
Onsitego provides hassle-free after-sales services for consumer electronics and appliances. This firm has a Pan India service with regional offices in key cities the flagship products include Extended Warranty, AMC (Annual Maintenance Contract), Screen Protection and Spills & Drops Protection Plans. It also provides coverage on electronics across 30+ categories and covers almost all brands of consumer appliances and devices. So the idea is to be the most customer-obsessed company in the world and the mission driving this company is to consistently deliver 'Wow' experiences to customers.
Onsitego Highlights
| Startup Name | Onsitego |
|---|---|
| Headquarter | Mumbai |
| Sector | Insurance Technology |
| Founders | Kunal Mahipal |
| Founded | 2010 |
| Parent Organization | Onsite Electro Services Pvt Ltd |
| Website | onsitego.com |
Onsitego - About and How it Works
Onsitego - Target Market Size
Onsitego - Founder and team
How was Onsitego Started
Onsitego - Business Model and Revenue Model
Onsitego - Funding and Investors
Onsitego - Startup Challenges
Onsitego - Competitors
Onsitego - Logo and Tagline
Onsitego - Growth
Onsitego - Future Plans
Onsitego - FAQs
Onsitego - About and How it Works
Onsitego offers three plans including Extended Warranty, Spills & Drops Protection and the Screen Protection Plan. Extended Warranty Plan is the flagship product. It ensures that the customers can maintain their electronic products in pristine new condition several years after the manufacturer’s warranty has expired. These plans cover all devices and home appliances, be it small or large purchased in India and are available for purchase on the website, Amazon, Croma and Vijay Sales stores to only name a few.
The Spills & Drops Protection Plan can only be purchased for mobile phones, tablets, laptops, and digital cameras, which covers all kinds of physical and liquid damage that are not covered in the manufacturer’s warranty. The plan ensures that any damage to your device in the first 12 months of ownership is taken care of by Onsitego. The damaged device is picked, serviced and delivered at the customer’s doorstep, at no extra cost.
The Screen Protection Plan covers damage only to the screen of the phone or tablet. Any kind of damage to the screen can make life miserable but this plan ensures that the customers can get protection for the part of the device that is most fragile; at a lesser cost.
It has 400-450 brand authorized partner service centers across India. This ensures that devices and appliances in the extended warranty period and damage protection plans are repaired by technicians who are best equipped to handle them.
Onsitego - Target Market Size
The target market share for Onsitego is around 23%, including device protection.The consumer device protection market is estimated to be at a $ 1.1 billion market. The overall after-sales services market is expected to be around $5.3 billion by FY24.
StartupTalky
Onsitego - Founders and Team
Kunal Mahipal is the Founder & CEO of Onsitego. He has a post-graduate diploma in Business from IIM- Bangalore. Before finding Onsitego, he has worked with firms like Edelweiss Capital, Citibank, etc.
The Onsitego team is a fantastic blend of people who care, very deeply, about Customer Experience.
“Coming together to launch Onsitego wasn’t easy. It took time but the most important trait that we all had was the desire to deliver the best in class customer service, which brought us together. Having an established root in the market for the last 10 years, we have gained a strength of over 300 employees across offices Pan India.” Says Kunal, Founder & CEO, Onsitego
All in all, right from those who work in the call center, to those who manage service operations, everyone here has a common trait i.e., the desire to deliver superior Customer Experiences.
How was Onsitego Started
“It was my personal experience of receiving sub-par repair service for my mobile phone that led me to recognize the unmet need for hassle-free and reliable post-purchase services. The hassle that I had to go through just to get a device dropped and collected from a service center made me recognize the need for reliable post-purchase services.” recalls Kunal Mahipal, Founder, Onsitego
It began as a B2C company for providing after sales services to the mobile phone users. It provided the service of picking up mobile phones form customer locations, and deliver the devices at home after the servicing is done. However,it did not took long for the team to realize that going after individual customers was not a capital- efficient model. This lead the company to pivot towards the current B2C model, where it tied up with various retailers, and acquired customers through these retailers.
Onsitego - Business Model and Revenue Model
Onsitego offers extended warranty, annual maintenance contracts, and damage protection plans for devices and appliances by partnering with India’s top retailers, marketplaces, and consumer finance companies. One can also buy its plans directly from their website.
The founder-entrepreneur is expecting Onsitego's revenue to grow about eight-fold in a few years by reaching Rs 600 crore by 2020, Rs 1,200 crore in the year after that and Rs 2,500 crore in the subsequent year.
Onsitego - Funding and Investors
Onsitego has raised $32 million till date. With its ongoing Series B round, it has raised $30 Million. Which were led by Zodius Growth Fund and IFC.
Onsitego will be using the freshly raised funds to consolidate its market position and strengthen its B2C offerings like AMC, home protection. and on-demand services.
Below are the funding details of Onsitego -
| Date | Stage | Amount | Investors |
|---|---|---|---|
| 2015 | Series A | $2 Million | Accel Partners |
| February,2020 | Series B | $20 Million | Zodius Growth Fund |
| September 2020 | Series B | $10 Million | IFC |
“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.” Said Jun Zhang, Country Head India at IFC
Onsitego - Startup Challenges
The challenge in the retail industry has always been awareness about useful services and the impact on a business owner’s bottom-line. The team had to invest significantly in driving home the point that our services are a win-win-win for all involved, i.e. the customer gets hassle-free service without leaving their homes, the retailer drives customer loyalty and retention and Onsitego acquires the customer’s trust in its services. The team has also built an effective customer engagement program through useful content that made them the preferred brand that customers kept coming back to.
Onsitego - Competitors
“We are a Customer Service company. We are focused on the customer and the experience we provide them. That focus is reflected in our product and process design, we are the only company that does not have a fine print for the customer. We have a ‘No Questions Asked’ policy, which means that our customers don’t have to go through paperwork or a difficult claims process. We have the highest acceptance rate of 99.4% in the industry and also the highest NPS score.”- Said Kunal when asked about the market competition.
StartupTalky
Onsitego - Logo and Tagline
'Good Things Last Longer with Onsitego' is the Tagline of Onsitego. It overall sums up the proposition of Onsitego.
Onsitego - Growth
- The customer base of 6 million in India
- Adding 1.2 lakh customers monthly
- Targeting a revenue of INR 340 crores in FY19-20
- Collaboration with Croma, Vijay Sales, and Amazon India
- Also available at regional specialty stores like Sanket, Great Eastern and Value Plus
- Partnered with leading consumer finance companies like ICICI, Axis, HDB and Kotak Mahindra
In 2020, OnesiteGo expanded its services with brand warranty services for international marquee brands like Toshiba and Hamilton Beach Brands as well as launched new plans like AMC, Annual Maintenance Contract for Air Conditioners and Water Purifiers, and Assured Buyback for Smartphones.
Onsitego - Future Plans
- To launch a new business line to meet the needs of those who may or may not have Onsitego's products and can avail repair services for a small fee.
- The company is also planning to expand its coverage to customers from other lending options such as debit cards and credit cards.
- As far as NPS is concerned, it has the highest customer satisfaction / NPS scores globally in the category.
- It is also planning to launch IPO in the next 3-4 years
Onsitego - FAQs
What is Onsite warranty?
It is the warranty in which the repair work in the warranty period is done at your doorstep.
Who are the Top Competitors of Onsitego?
OnsiteGo's top competitors include OneAssist Consumer Solutions, Dimensional Inspection Laboratories, MoveTheDial
Who is the Founder of Onsitego?
Kunal Mahipal is the Founder & CEO of Onsitego
Who is the CEO of Onsitego?
Kunal Mahipal is the Founder & CEO of Onsitego
What is Onsitego's Funding till date?
It has raised $21 million till date. Latest funding round was on February 2020, where Onsitego raised $19 million from Zodius Growth Fund.
What is Onsitego's Business Model?
Onsitego offers extended warranty, annual maintenance contracts, and damage protection plans for devices and appliances by partnering with India’s top retailers, marketplaces, and consumer finance companies. One can also buy its plans directly from their website.
Author: Vidhi Punamiya
Source : https://startuptalky.com/onsitego-success-story/
Date : 2020-09-23T08:18:00.000Z