OneStack Raises $2 mn from Pentathlon Ventures & Others
The fintech startup OneStack has secured a significant funding of $2 million in its Series A round, led by Pentathlon Ventures. The round also saw participation from Yatra Angel Network, 100Unicorns, and Venture Catalysts. This substantial investment is expected to be followed by an additional $1 million soon, further solidifying the startup’s position in the Indian fintech landscape.
OneStack, which has been making waves in the fintech space, has already achieved significant milestones. With over 200 banks onboarded, the startup has managed to capture a 20% market share in North and West India. The company is now gearing up to expand its presence to South and East India, with plans to onboard another 200 banks.
The funding round, which was announced recently, comes at an opportune time for OneStack. The fintech startup is poised to capitalize on the growing demand for digital payment solutions in the country. With the rise of digital payments, Indian consumers are increasingly seeking convenient and secure ways to manage their finances. OneStack, with its innovative solutions, is well-positioned to tap into this growing demand and establish itself as a leader in the fintech space.
So, what exactly is OneStack, and how does it plan to utilize this significant funding? To understand this, it’s essential to take a closer look at the startup’s technology and offerings.
What is OneStack?
OneStack is a fintech startup that offers a suite of digital payment solutions to banks and financial institutions. The startup’s technology enables banks to offer a range of digital payment services to their customers, including mobile wallets, online banking, and point-of-sale (POS) transactions.
OneStack’s solutions are designed to be highly customizable, allowing banks to tailor their digital payment services to meet the specific needs of their customers. The startup’s technology is also highly scalable, enabling banks to quickly and easily onboard new customers and expand their services.
How will OneStack utilize the funding?
The funding received by OneStack will be utilized to drive the company’s expansion plans, both in terms of geographic reach and the range of services offered. The startup plans to use the funds to:
- Expand its presence to South and East India: With over 200 banks already onboarded, OneStack is well-positioned to expand its presence to other regions of the country. The startup plans to onboard another 200 banks in the coming months.
- Develop new products and services: The funding will enable OneStack to develop new products and services, including additional digital payment solutions and services.
- Strengthen its technology: The startup plans to utilize the funds to strengthen its technology and infrastructure, ensuring that its solutions are highly secure, scalable, and reliable.
- Build a strong team: OneStack plans to use the funding to build a strong team, with a focus on hiring top talent in the fintech space.
What does this mean for the fintech industry?
The funding received by OneStack is significant for the fintech industry, as it indicates the growing interest in digital payment solutions in India. The startup’s success is a testament to the growing demand for convenient and secure digital payment options, and its expansion plans will provide a boost to the fintech industry as a whole.
The funding also highlights the willingness of investors to support fintech startups that are driving innovation and growth in the industry. With the Indian fintech market expected to continue growing at a rapid pace, the funding received by OneStack is likely to be just the beginning of a new wave of investments in the sector.
Conclusion
OneStack’s Series A funding round is a significant milestone for the fintech startup, and its plans to expand its presence in India are likely to have a profound impact on the fintech industry. With its innovative solutions and strong technology, OneStack is well-positioned to capitalize on the growing demand for digital payment solutions in the country.
As the startup looks to expand its presence to South and East India, it will be interesting to see how it plans to differentiate itself from its competitors and establish itself as a leader in the fintech space. With the funding received, OneStack is poised to make a significant impact on the Indian fintech landscape, and its success is likely to be closely watched by investors and industry experts alike.
Source:
https://startuptalky.com/news/onestack-raises-series-a-round/
