Fintech platform OneStack has successfully raised $2 million in its Series A funding round, with an additional $1 million expected from Pentathlon Ventures, alongside participation from Yatra Angel Network and continued backing from existing investors 100Unicorns and Venture Catalysts.
The funds will be directed toward developing scalable technologies to promote financial inclusion and drive digital transformation in underserved markets.
Founded by Amit Kapoor and Vishal Gupta, OneStack provides comprehensive solutions such as Core Banking, Mobile Banking, NPCI UPI Switch, and BBPS Switch, empowering regional and rural banks to modernize their operations and enhance services. Operating as both a technical service provider (TSP) and an application service provider (ASP), the platform offers a unified technology stack.
With over 200 cooperative banks onboard, OneStack holds a 20% market share in North and West India, serving 35 crore Indians and 6 crore MSMEs through its infrastructure. It supports seven out of 34 State Cooperative Banks and enables partner banks to independently issue branded UPI IDs and process Bharat BillPay transactions, reducing reliance on third-party platforms. Since its last funding round, OneStack has deployed over 6,000 Soundboxes in 14 regional languages.
OneStack’s innovative approach to modernizing banking infrastructure in underserved regions, coupled with strong investor backing, positions it to impact the financial inclusion landscape in India significantly. With its expanding presence and continued focus on technological growth, OneStack is set to revolutionize banking services for millions of Indians and MSMEs.
