OneStack Raises $2 Mn from Pentathlon Ventures & Others
The fintech startup ecosystem in India has been witnessing a surge in investments lately, and the latest addition to this list is OneStack, which has secured $2 million in its Series A funding round. The round was led by Pentathlon Ventures, with Yatra Angel Network, 100Unicorns, and Venture Catalysts participating. This significant funding will not only help OneStack expand its operations but also secure an additional $1 million in the coming days.
Founded in 2018, OneStack is a fintech startup that has been making waves in the Indian payment industry. With its innovative approach to digital transactions, the startup has managed to onboard over 200 banks and achieve a remarkable 20% market share in North and West India. This impressive feat has propelled the startup to expand its footprint into South and East India, with plans to onboard an additional 200 banks.
The funding round will be used to fuel OneStack’s growth plans, which include expanding its team, strengthening its technology infrastructure, and increasing its marketing efforts. The startup’s CEO, [CEO’s Name], expressed his gratitude to the investors and emphasized the significance of this funding round. “We are thrilled to have received the support of such esteemed investors. This funding will enable us to accelerate our growth plans and further strengthen our position in the Indian fintech landscape,” he said.
Pentathlon Ventures, the lead investor in this round, is a venture capital firm that has been actively involved in supporting innovative startups in the fintech and healthcare sectors. The firm’s investment in OneStack is a testament to its commitment to backing entrepreneurs who are disrupting traditional industries.
Yatra Angel Network, another prominent investor in this round, is a group of high-net-worth individuals who have a passion for investing in startups. The network has been instrumental in supporting several successful startups in India, and its investment in OneStack is a significant milestone in the startup’s journey.
100Unicorns, a unicorn-hunting fund, and Venture Catalysts, a startup accelerator, also participated in this funding round. These investors bring significant expertise and network to the table, which will be invaluable in OneStack’s growth journey.
OneStack’s success in onboarding over 200 banks and achieving a significant market share in North and West India is a testament to its innovative approach to digital transactions. The startup’s technology platform enables customers to make seamless transactions using various digital modes, including UPI, IMPS, and cards. This has made it an attractive option for banks and customers alike.
The fintech landscape in India is rapidly evolving, with new startups emerging every quarter. However, OneStack’s achievement is a significant milestone in the industry, and its funding round is a testament to the confidence investors have in its growth potential.
As OneStack prepares to expand into South and East India, it is poised to make a significant impact in the country’s fintech landscape. With its innovative technology platform and strong partnerships with banks, the startup is well-equipped to tackle the challenges of the Indian payment industry.
In conclusion, OneStack’s $2 million Series A funding round is a significant milestone in the fintech startup ecosystem. The startup’s innovative approach to digital transactions, combined with its strong partnerships with banks, makes it an attractive option for investors and customers alike. With this funding, OneStack is poised to make a significant impact in the Indian fintech landscape, and we can expect to see exciting developments from the startup in the coming days.
Source: https://startuptalky.com/news/onestack-raises-series-a-round/
