# Onsi

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/onsi

- Industry: Insurance
- Headquarters: London, UK
- Website: www.onsi.com
- Total disclosed funding: $3.7M
- Latest round: Seed (Nov 28, 2022)
- Investors on record: 4

## About

Collective Society Ltd. is a UK-based company that provides innovative flexible worker benefits, enhancing financial security for shift workers through services such as on-demand wage access and customized reward programs.Founded in 2019 and headquartered in London, UK, Collective Society Ltd. focuses on providing flexible worker benefits. The company, co-founded by Anthony Beilin and Benjamin Hay, has engaged in five total deals, with its most recent funding round occurring on November 25, 2024, when it raised GBP 9.74 million from Zurich Insurance Group, bringing the total amount raised to GBP 9.74 million and current valuation to GBP 42.589 million.Onsi offers a comprehensive suite of flexible worker benefits designed to enhance the financial security and engagement of shift workers. Their core offerings include Onsi Pay, which provides workers with on-demand access to their earned wages, allowing them to retrieve funds whenever necessary; Onsi Reward, a customizable rewards program that includes incentives like fuel vouchers and bonuses for night shifts; and Onsi Protect, an insurance product that covers workers during periods of illness or accidents. These services aim to address the unique challenges faced by on-demand and gig economy workers, assisting companies in attracting and retaining talent during peak seasons. Onsi's solutions are deployed across various sectors in multiple geographical markets, specifically targeting clients in the UK and EU, where the demand for flexible workforce solutions is rapidly increasing.The revenue model of Onsi is built around transactions related to their core services, which include on-demand pay, flexible rewards, and insurance solutions. Clients, primarily businesses employing shift workers, partner with Onsi to implement these benefit programs, generating revenue from service fees associated with pay drawdowns, reward distributions, and insurance premiums. Businesses may subscribe to Onsi's platform to manage their workforce benefits, paying a fee per worker for access to Onsi Pay and Onsi Reward programs. Additionally, Onsi Protect may involve a tiered pricing structure based on the coverage selected by the employer. The transactional nature of these services positions Onsi to generate revenue through business-to-business partnerships, which contributes to its growth within the flexible benefits market.In November 2024, Collective Society Ltd. raised GBP 9.74 million in venture funding from Zurich Insurance Group. The company will use the funding to support its expansion plans and promote growth and innovation. Future initiatives include designing new products and targeting expansion into new markets, particularly within the UK and EU regions, to capitalize on the increasing demand for flexible workforce solutions.

## Funding rounds

- Seed, Nov 28, 2022 — FJ Labs
- Seed, Feb 12, 2020, $3.7M — Stride, InsurTech Gateway, Delin Ventures

## Investors

- Stride (https://capitalatlas.ai/funds/stride) — Seed
- InsurTech Gateway (https://capitalatlas.ai/funds/insurtech-gateway) — Seed
- Delin Ventures (https://capitalatlas.ai/funds/delin-ventures) — Seed
- FJ Labs (https://capitalatlas.ai/funds/fj-labs) — Seed