1 min read.Updated: 15 Jul 2021, 12:01 PM ISTLivemint
OneCode helps to provide brands with an outsourced sales army, which empowers people in tier-2 and tier-3 cities to become sales agents with a steady source of income.
BENGALURU: OneCode, a digital platform for sale agents, on Thursday said it has raised $5 million in a fresh round of funding led by Sequoia Capital India accelerator programme, Surge and Nexus Venture Partners.
The round also saw participation from WaterBridge Ventures.
Several angel investors including Haptik co-founder Aakrit Vaish; Pine Labs chief executive, Amrish Rau (Pine Labs; former Facebook product head, Unacademy co-founder, Gaurav Munjal; Razorpay co-founder, Harshil Mathur and Udaan founder Sujeeth Kumar, almos participated as a part of the round.
OneCode connects a network of accessible sales agents to a pool of potential customers who may not be as tech-savvy. The startup’s mission is to digitise 50 million sales agents across India, and bridge the gap between brands and potential buyers who may need in-person interactions and physical touch points before committing to a purchase.
“OneCode helps to provide brands with an outsourced sales army, which empowers people in tier-2 and tier-3 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," said Manish Shara, co-founder of OneCode.
Currently, the platform works with a variety of financial institutions, such as banks, as well as discount brokers and credit card companies, including ICICI Bank, Axis Bank and RedCarpet.
By using technology to mobilise this agent network, these companies are able to increase their distribution in tier-2 and 3-cities
"We believe that India is a unique market where you 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," said Pratik Poddar, principal, Nexus Venture Partners.