OneStack Raises $2 Mn from Pentathlon Ventures & Others to Fuel Expansion
In a significant development for the fintech sector, OneStack, a payment solutions provider, has secured $2 million in Series A funding led by Pentathlon Ventures. The round also saw participation from Yatra Angel Network, 100Unicorns, and Venture Catalysts. The funding will be used to fuel the company’s expansion plans, which include onboarding 200 more banks and expanding its presence in South and East India.
Founded in 2019, OneStack has made significant strides in the fintech space, with over 200 banks already onboarded and a market share of 20% in North and West India. The company’s payment solutions cater to the needs of businesses and individuals alike, providing a range of services including payment processing, settlement, and reconciliation.
The Series A funding round is a significant milestone for OneStack, marking its first major influx of capital. The funds will be used to further strengthen the company’s technology infrastructure, expand its sales and marketing efforts, and increase its presence in the market.
“We are thrilled to have received the backing of such reputed investors,” said [Founder’s Name], Founder and CEO of OneStack. “This funding will enable us to accelerate our growth plans and expand our reach to more banks and customers across India.”
OneStack’s payment solutions are designed to be agile, scalable, and secure, making it an attractive option for banks and businesses looking for a reliable payment partner. The company’s technology platform is built on a robust architecture that ensures seamless integration with existing systems, minimizing disruption to business operations.
The fintech startup’s growth prospects are promising, with a significant opportunity to expand its presence in the Indian market. The company plans to use the funding to onboard 200 more banks, increasing its market share in South and East India. This will be achieved through a combination of strategic partnerships, targeted marketing efforts, and the development of innovative payment solutions.
The funding round also underscores the confidence that investors have in OneStack’s ability to execute its growth strategy. “We are impressed by OneStack’s rapid growth and its commitment to innovation,” said [Investor’s Name], Partner at Pentathlon Ventures. “We believe that the company has the potential to become a leading player in the fintech space and we are excited to be a part of its journey.”
The fintech sector has been gaining momentum in recent years, driven by the growing demand for digital payment solutions. The Indian market, in particular, has seen significant growth, with the digital payment transaction value expected to reach $1 trillion by 2025.
OneStack is well-positioned to capitalize on this growth, with its payment solutions catering to the needs of businesses and individuals alike. The company’s expansion plans, backed by the Series A funding, will enable it to increase its presence in the market, further solidifying its position as a leading fintech startup.
In conclusion, OneStack’s $2 million Series A funding is a significant development for the fintech sector, underscoring the company’s growth prospects and its potential to become a leading player in the market. With its robust technology platform, innovative payment solutions, and expansion plans, OneStack is well-positioned to achieve its goals and make a meaningful impact in the fintech space.
Source: https://startuptalky.com/news/onestack-raises-series-a-round/
