OneStack Raises $2 mn from Pentathlon Ventures & Others
In a significant development in the fintech space, OneStack, a fintech startup, 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 help the company expand its operations and achieve its growth goals.
This is a significant milestone for OneStack, which has already made a mark in the Indian fintech landscape. The company has onboarded over 200 banks and has a 20% market share in North and West India. With this funding, OneStack plans to expand its operations to South and East India, onboarding an additional 200 banks.
OneStack’s platform offers a range of services, including payment gateway, account aggregation, and digital KYC, among others. The company’s primary focus is on providing a seamless and secure experience to its users, while also reducing the complexity and costs associated with traditional banking systems.
Pentathlon Ventures, which led the funding round, is known for its focus on investing in innovative startups that have the potential to disrupt traditional industries. The firm’s portfolio includes companies like ShareChat, a social media platform, and PolicyBazaar, an insurance aggregator.
Yatra Angel Network, another participant in the funding round, is a network of angel investors and entrepreneurs who invest in early-stage startups. The network has invested in companies like Zomato, a food delivery platform, and Ola, a ride-hailing service.
100Unicorns, a startup accelerator and investment platform, has also participated in the funding round. The platform has invested in companies like Razorpay, a payment gateway, and Freshmenu, a food delivery platform.
Venture Catalysts, a startup accelerator and investment platform, has also participated in the funding round. The platform has invested in companies like Byju’s, an edtech platform, and Oyo, a hospitality service.
OneStack’s funding round is a significant development in the Indian fintech landscape, which is rapidly growing and evolving. The company’s platform is designed to provide a range of services to its users, including payment gateway, account aggregation, and digital KYC, among others.
The funding round is also a testament to the faith that investors have in OneStack’s potential to disrupt traditional banking systems. The company’s platform is designed to provide a seamless and secure experience to its users, while also reducing the complexity and costs associated with traditional banking systems.
OneStack’s plans to expand its operations to South and East India are also significant, as these regions have a large untapped market for fintech services. The company’s platform is well-positioned to capitalize on this growth opportunity, and its expansion plans are likely to be closely watched by investors and industry observers.
In conclusion, OneStack’s Series A funding round is a significant development in the Indian fintech landscape. The company’s platform is designed to provide a range of services to its users, including payment gateway, account aggregation, and digital KYC, among others. The funding round is a testament to the faith that investors have in OneStack’s potential to disrupt traditional banking systems, and the company’s expansion plans are likely to be closely watched by investors and industry observers.
Source: https://startuptalky.com/news/onestack-raises-series-a-round/
