Gurugram-based Fintech Startup Onestack Secures $2 Million in Pre-Series A Funding

• ByStartupStory     |    July 13, 2023

Onestack, a Gurugram-based fintech startup specializing in digital solutions, announced today that it has successfully raised $2 million in equity funding through a pre-Series A round. The funding round included participation from prominent venture funds, including GrowX, Stride Ventures, 9Unicorns, and Venture Catalyst.

Founded in 2019, Onestack offers a range of digital solutions, including online banking, mobile banking, payment options, investment banking, and insurance solutions, tailored for cooperative banks and credit societies. With a vision to digitize over 1,000 banks and societies this year, Onestack has already onboarded 200 banks and societies onto its innovative technology platform.

The raised funds will be instrumental in supporting Onestack’s expansion plans, including team augmentation, fostering innovation within the company, and establishing new offices across the country. Amit Kapoor, Founder and CEO of Onestack, expressed enthusiasm about the growth journey ahead, stating, “We are thrilled to have the support of our investors as we embark on this exciting phase of growth. This infusion of funds not only enables us to enhance our product suite and expand our presence throughout India but also propels our growth journey at an accelerated pace.”

Looking ahead, Onestack has planned the introduction of a cloud-based platform called OneCBS for cooperative banks. OneCBS will integrate mobile applications, empowering banks to enhance customer experiences and make data-driven decisions. Additionally, the company is developing SoundBox, a merchant solution that enables cooperatives to offer digital payment services to their merchants.

Manu Rikhye, Partner at GrowX, highlighted Onestack’s pioneering role in the cooperative banking sector, bridging the digital divide and equipping banks and societies to meet the needs of digitally native customers. Rikhye stated, “OneStack is at the forefront of the cooperative banking sector, breaking barriers and empowering banks and societies to serve today’s digital-native customers.”

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