Onsitego launches fund to support service partners during coronavirus
Mumbai-headquartered after-sales service startup Onsitego recently announced the ‘Onsitego Cares Fund’ initiative to provide financial assistance to employees and service partners facing distress during the time of lockdown.
Any employee or service centre staff affected by the COVID-19 pandemic and is in need of funds, can make use of the ‘No Questions Asked’ Onsitego Cares Fund.
Founded in 2010, the company is extending interest-free funds of up to Rs 12 lakh to select service partners that can be repaid anytime.
Speaking about the initiative, Kunal Mahipal, CEO of Onsitego, said,
“We are happy to support our teams and partners in any way we can during these turbulent times. We have created a fund which would be of help to those who have been affected, directly or indirectly, by the COVID-19 and are in need of financial support. Our people have always been our greatest strength and support, and I think it is important that we stand by them today when they are in need.“
For employees, it is providing a total grant of Rs 10 lakh. Employees earning below Rs 40,000 are entitled to an amount of up to seven days of pay. Onsitego says that this is not an advance against salary and that employees who use this fund will not have to repay later.
The Onsitego Cares Fund will be available to employees and service partners across the country till the lockdown is lifted by the government.
Not only Onsitego, but founders from leading Indian startups,members of investment advisory firms in India, and independent advisors and supporters of the startup ecosystem have come together to announce the launch of the Action COVID-19 Team (ACT).
ACT’s mission is to provide guidance and resources to startup founders and employees, and empower teams through financial grants and mentoring, to create large-scale impact in the fight against COVID-19.
The group will be supported by partner NGOs and leading industry veterans and will collaborate with
government agencies to scale up solutions that show promising results.
In February 2019, Onsitego raised $19 million in Series B round of funding led by Zodius Growth Fund, with participation from existing investor Accel Partners.
(Edited by Javed Gaihlot)