Former global CEO of the world’s largest telecom network, Arun Sarin has invested an undisclosed amount in a startup which provides protection plans for credit cards, mobile-wallets, smartphones and other electronic devices in events like theft or damage.
According to a leading daily, this investment from Sarin in the startup named OneAssist is part of its series C round from June this year which also saw participation from Sequoia Capital, Lightspeed Ventures, Assurant (a leading insurance provider in based in New York) and from Moonstone Investments (based in the UK) worth approximately $18 million. According to Crunchbase, the startup has raised close to $31 million so far. Founded in June 2011 by financial industry veterans Gagan Maini and Subrat Pani, OneAssist Consumer Solutions Pvt Ltd is headquartered out of Mumbai, India.
Arun Sarin was CEO of Vodafone’s global operations from 2003 to 2008, which at that point was called the world’s largest mobile phone company. He left the company in commendable stead, known as a driving force behind Vodafone's strategic move into emerging markets and data services, serving 300 million customers.
A naturalized citizen of US and a graduate of IIT Kharagpur, Sarin was a former advisor to private equity firm KKR. This early stage investor has stakes numerous startups and ventures in the TMT (technology, media and telecom) space and serves on several advisory boards.
In January this year, Californian company Mobileum, a market leading provider of roaming systems and analytics solutions for telecom business transformation, announced the appointment of Sarin to its board of directors.
He also serves on the board of directors of Ola Cabs, Cisco Systems, Charles Schwab Corporation (a banking and brokerage firm) and Accenture. He has previously served on numerous boards, including The Gap Inc. and Safeway Inc. In addition, Sarin has served as a non-executive director of the Court of the Bank of England.
In June 2016 Sarin became an advisor to Truecaller following an undisclosed investment. According to PTI, this was Sarin’s third investment after the ones in taxi aggregator app Ola in July 2015 and music streaming company Saavn in September 2015. Sarin has also invested in Dailyhunt, the app delivering news in indic languages.
In addition, back in August last year, Pine Labs, an Indian company providing payments solutions, announced the board level appointments of Sarin.
In 2010, Sarin was named an Honorary Knight of the British Empire for services to the communications industry.