OneStack Raises $2 Mn from Pentathlon Ventures & Others, Eyes Expansion in India
In a significant development for the Indian fintech space, OneStack, a payment solutions startup, has secured a whopping $2 million in Series A funding led by Pentathlon Ventures. The round also saw participation from Yatra Angel Network, 100Unicorns, and Venture Catalysts. What’s more, the company is expected to receive an additional $1 million in the coming days, cementing its position as a major player in the Indian fintech landscape.
Founded in 2019, OneStack has been making waves in the industry with its innovative payment solutions, which enable businesses to manage their financial transactions seamlessly. The startup’s mission is to bridge the gap between traditional banking systems and modern-day digital payment solutions, making it easier for businesses to operate efficiently.
OneStack’s impressive growth trajectory is reflected in its impressive numbers. The company has onboarded over 200 banks, giving it a significant 20% market share in North and West India. With this funding, the startup is now poised to expand its operations to South and East India, with a target of onboarding 200 more banks in the coming months.
The funding round, led by Pentathlon Ventures, is a testament to OneStack’s potential for growth and innovation. “We believe OneStack has the potential to revolutionize the way businesses manage their financial transactions,” said Ritesh Gupta, Managing Partner at Pentathlon Ventures. “Their innovative approach to payment solutions has already shown significant traction, and we’re excited to be a part of their journey.”
OneStack’s success is also attributed to its strong partnerships with various banks and financial institutions. The startup’s payment solutions are designed to be scalable, secure, and easy to use, making it an attractive proposition for businesses of all sizes.
“We’re thrilled to have the support of some of the most prominent investors in the industry,” said Prateek Sehgal, Co-Founder and CEO of OneStack. “This funding will enable us to further expand our operations, improve our technology, and strengthen our partnerships with banks and financial institutions.”
OneStack’s vision is to create a seamless payment ecosystem that connects businesses, banks, and customers seamlessly. The startup’s solutions are designed to simplify payment processes, reduce costs, and increase efficiency. With this funding, OneStack is well-positioned to achieve its goal of becoming the go-to payment solutions provider in India.
The fintech landscape in India is rapidly evolving, with startups like OneStack leading the charge. The industry has seen a significant influx of funding in recent months, with investors betting big on the potential of Indian fintech startups.
As OneStack looks to expand its operations to new regions, it’s clear that the startup has the potential to make a significant impact on the Indian fintech landscape. With its innovative payment solutions, strong partnerships, and impressive growth numbers, OneStack is set to become a major player in the industry.
News Source: https://startuptalky.com/news/onestack-raises-series-a-round/
