OneCode, a platform to digitise the sales ecosystem, on Thursday said it has raised $5 million (about Rs 37.2 crore) in funding led by Sequoia Capital India's Surge and Nexus Venture Partners, with participation from WaterBridge Ventures.
The funding round was also supported by angel investors Aakrit Vaish (Haptik), Amrish Rau (Pine Labs), Anand Chandrasekaran, Arjun Vaidya, Ashish Dave (Mirae Asset), Cloud Capital and Gaurav Munjal (Unacademy), a statement said.
Harshil Mathur (Razorpay), Jitendra Gupta (Jupiter Money), Kunal Shah, Lalit Keshre (Groww), Miten Sampat, Pravin Jadhav (Raise Financial Services), Rahul Mathur (Bimape), Sandeep Srinivas (Redcarpet), Sujeeth Kumar (Udaan), Sweta Rau, and Vivek Ananda (Bounce) also participated, it added.
The platform works with a variety of financial institutions, such as banks, as well as discount brokers and credit card companies, like ICICI Bank, Axis Bank and RedCarpet.
It aims to connect these companies with over 50 million sales agents across the country, giving these agents access to sell the products and services to less tech-savvy buyers.
"OneCode helps to provide brands with an outsourced sales army, which empowers people in tier II and III cities to become sales agents with a steady source of income. Even during these tough times, it's heartening to see how we can still provide our sales agents with livelihood from the comfort of their own homes," Manish Shara, co-founder of OneCode, said.
Pratik Poddar, Principal at Nexus Venture Partners, said India is a unique market where one can create a lot of value by empowering distribution partners.
"Manish and Yash are solving a large problem for the 50 million agents and financial services institutions and we are very excited to back the OneCode team," he added.
OneCode was founded in Bengaluru in March 2019 by Manish Shara and Yash Desai. It is part of Surge's fifth cohort of 23 companies that have developed new digital solutions to help companies and individuals live, work and learn better in a rapidly evolving Southeast Asian landscape.