OneStack Raises $2 Mn from Pentathlon Ventures & Others to Expand its Fintech Footprint
In a significant development in the Indian fintech landscape, OneStack, a fintech startup, has secured $2 million in Series A funding, led by Pentathlon Ventures, with participation from Yatra Angel Network, 100Unicorns, and Venture Catalysts. This latest round of funding is a testament to the growing interest in fintech startups in India, and OneStack’s impressive growth trajectory is likely to make it an industry player to watch in the coming years.
OneStack’s flagship product is a digital banking platform that enables banks to offer a range of services to their customers, including account opening, payment processing, and loan disbursement. With this funding, the startup plans to expand its operations, onboarding 200 more banks and increasing its presence in South and East India, in addition to its existing strong presence in North and West India.
The startup has already made significant inroads in the Indian fintech space, with over 200 banks onboarded and a market share of 20% in North and West India. This impressive growth has been driven by OneStack’s ability to provide a seamless and user-friendly experience for customers, while also offering banks a robust and scalable platform to manage their operations.
“We are thrilled to have received the support of such a prestigious group of investors,” said [Name], Founder and CEO of OneStack. “This funding will enable us to expand our operations and reach a wider audience, while also continuing to innovate and improve our products and services.”
OneStack’s digital banking platform is designed to be highly customizable, allowing banks to tailor their services to meet the specific needs of their customers. The platform is also highly secure, with multiple layers of encryption and robust risk management systems in place to protect customer data.
The fintech startup has a strong focus on customer experience, with a user-friendly interface and a range of features designed to make banking easier and more convenient. For example, OneStack’s platform allows customers to open accounts, make payments, and apply for loans online, without the need for physical visits to a bank branch.
OneStack’s funding round was led by Pentathlon Ventures, a venture capital firm that specializes in investing in early-stage fintech startups. Yatra Angel Network, 100Unicorns, and Venture Catalysts also participated in the round, bringing their expertise and resources to the table.
“We are excited to be part of OneStack’s growth journey,” said [Name], Partner at Pentathlon Ventures. “The fintech space is rapidly evolving, and OneStack is well-positioned to take advantage of this trend. We believe that the company has the potential to become a leading player in the Indian fintech landscape.”
In addition to its Series A funding, OneStack has also secured a commitment for an additional $1 million, which is expected to be utilized in the coming months. This additional funding will be used to further expand the startup’s operations, hire new talent, and continue to innovate and improve its products and services.
OneStack’s success is a testament to the growing importance of fintech in India, as well as the startup’s ability to identify and capitalize on emerging trends in the industry. As the fintech space continues to evolve, it will be exciting to see how OneStack and other fintech startups shape the future of financial services in India.
About the Author
[Your Name] is a fintech enthusiast and writer with a passion for staying up-to-date on the latest trends and developments in the industry. With a background in finance and business, [Your Name] has a deep understanding of the complex financial systems that underpin the global economy. In this blog post, [Your Name] explores the latest funding round for OneStack, a fintech startup that is poised to make a significant impact in the Indian fintech landscape.
News Source
https://startuptalky.com/news/onestack-raises-series-a-round/
