OneStack raises $2 mn from Pentathlon Ventures & others
In the latest development in the Indian fintech space, OneStack, a digital banking platform, has secured $2 million in a Series A funding round led by Pentathlon Ventures. The round also saw participation from Yatra Angel Network, 100Unicorns, and Venture Catalysts.
The funding will be utilized by OneStack to expand its operations in the Indian market, particularly in the South and East regions. Currently, the company has partnered with over 200 banks, giving it a 20% market share in North and West India. The additional funding will also enable OneStack to onboard 200 more banks, further solidifying its position in the market.
The Series A funding round is a significant milestone for OneStack, which has been rapidly growing its user base and expanding its services. The company’s digital banking platform allows customers to access various financial services, including account opening, transaction management, and bill payments, through a single interface.
Commenting on the funding, [Name], CEO of OneStack, said, “We are thrilled to have Pentathlon Ventures and other investors believe in our vision of democratizing access to digital banking in India. This funding will enable us to further scale our operations and expand our reach to more customers and banks across the country.”
Pentathlon Ventures, a Mumbai-based venture capital firm, has been actively investing in fintech startups in India. The firm’s partner, [Name], said, “We believe that OneStack has the potential to disrupt the traditional banking landscape in India. The company’s focus on digital banking and its ability to partner with multiple banks make it an attractive investment opportunity for us.”
OneStack’s digital banking platform is designed to provide a seamless and secure experience to customers. The platform offers features such as instant account opening, real-time transaction tracking, and personalized financial management tools. The company has also integrated various payment modes, including UPI, IMPS, and NEFT, to enable customers to make transactions easily.
The fintech startup has been growing rapidly since its inception, with its user base expanding by over 500% in the last year. The company has also been attracting new customers through its partnerships with various banks and financial institutions.
The additional $1 million in funding that OneStack will receive soon will be used to further expand its operations and strengthen its technology infrastructure. The company plans to use the funds to improve its customer service, enhance its platform, and expand its marketing efforts.
In conclusion, OneStack’s $2 million Series A funding round is a significant development in the Indian fintech space. The company’s digital banking platform has been gaining popularity rapidly, and the additional funding will enable it to further scale its operations and expand its reach to more customers and banks across the country.
Source: https://startuptalky.com/news/onestack-raises-series-a-round/
