Fintech platform OneStack has successfully raised $2 million in its Series A funding round, with an additional $1 million set to follow. The round is led by Pentathlon Ventures, with participation from Yatra Angel Network and existing investors 100Unicorns and Venture Catalysts.
The fresh capital will fuel the development of scalable technologies aimed at driving financial inclusion and accelerating digital transformation in underserved markets, particularly among regional and rural banks.
Founded by Amit Kapoor and Vishal Gupta, OneStack provides a comprehensive suite of fintech solutions, including Core Banking, Mobile Banking, NPCI UPI Switch, and BBPS Switch. These services help modernize operations for cooperative banks, enabling them to offer efficient digital banking solutions.
Operating as both a Technical Service Provider (TSP) and an Application Service Provider (ASP), OneStack delivers a unified technology stack that facilitates seamless digital transactions.
Currently, over 200 cooperative banks leverage OneStack’s solutions, giving the platform a 20% market share across North and West India. Additionally, seven out of 34 State Cooperative Banks utilize its infrastructure to serve 35 crore Indians and six crore MSMEs.
OneStack’s UPI Switch and BBPS Switch empower partner banks to issue branded UPI IDs and process Bharat BillPay transactions independently, reducing reliance on third-party platforms. Since its previous funding round, OneStack has also deployed over 6,000 Soundboxes in 14 regional languages, further strengthening its digital presence.
With its latest funding, OneStack is poised to expand its reach and enhance financial accessibility for rural and cooperative banking institutions across India.
