OneStack Raises $2 Mn from Pentathlon Ventures & Others
In a significant development for the fintech space, OneStack, a fintech startup, has secured $2 million in its Series A funding round, led by Pentathlon Ventures, with Yatra Angel Network, 100Unicorns, and Venture Catalysts participating. This fresh infusion of capital will help the company further accelerate its growth and expansion plans. Moreover, the startup has also secured an additional $1 million, which will be released in the coming months.
OneStack, which provides a digital payment processing platform, has made significant inroads in the Indian fintech landscape. With over 200 banks onboarded, the company boasts a impressive 20% market share in North and West India. Now, with this fresh funding in place, OneStack plans to expand its operations to South and East India, onboarding an additional 200 banks in the process.
The company’s digital payment processing platform offers a range of services, including payment processing, reconciliation, and settlement, making it an attractive solution for banks and financial institutions. OneStack’s platform is designed to be highly scalable, flexible, and secure, enabling financial institutions to efficiently manage their payment processing needs.
The funding round, which was led by Pentathlon Ventures, a prominent venture capital firm, demonstrates the growing confidence in OneStack’s business model and its potential for growth. Pentathlon Ventures has a strong track record of investing in fintech startups, and its involvement in this funding round is a significant endorsement of OneStack’s capabilities.
Yatra Angel Network, 100Unicorns, and Venture Catalysts, which are all prominent angel networks and venture capitalists, also participated in this funding round. Their involvement in this round is a testament to the growing interest in fintech startups in India and the potential for OneStack to disrupt the traditional payment processing landscape.
With this funding in place, OneStack plans to expand its operations to new geographies, onboarding more banks and financial institutions, and increasing its presence in the Indian fintech market. The company’s platform is designed to be highly scalable, and with this funding, it will be able to further invest in its technology and infrastructure to support its rapid growth.
The Indian fintech market has seen significant growth in recent years, driven by the increasing adoption of digital payments and the government’s initiatives to promote digital payments. OneStack’s platform is well-positioned to benefit from this growth, and with this funding in place, it is poised to become a major player in the Indian fintech landscape.
In conclusion, OneStack’s $2 million Series A funding round, led by Pentathlon Ventures, is a significant development for the fintech space in India. With this funding in place, the company is well-positioned to expand its operations to new geographies, onboarding more banks and financial institutions, and increasing its presence in the Indian fintech market. The company’s platform is designed to be highly scalable, and with this funding, it will be able to further invest in its technology and infrastructure to support its rapid growth.
Source: https://startuptalky.com/news/onestack-raises-series-a-round/
