OneStack raises $2 mn from Pentathlon Ventures & others
In a significant development in the fintech space, OneStack, a digital payment infrastructure company, 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. This strategic investment is expected to accelerate OneStack’s growth plans, including expanding its presence in new markets and onboarding more banks.
With over 200 banks already onboarded, OneStack is currently enjoying a 20% market share in North and West India. The company plans to leverage this funding to expand its operations into South and East India, with the goal of onboarding an additional 200 banks in the coming months. This ambitious expansion plan is expected to further solidify OneStack’s position as a leading player in the fintech space.
OneStack’s technology enables banks and financial institutions to provide a range of digital payment services to their customers, including mobile payments, online transactions, and bill payments. The company’s platform is designed to be highly scalable and secure, making it an attractive option for banks looking to modernize their payment infrastructure.
The Series A funding round is a significant milestone for OneStack, which has been gaining traction in the fintech space over the past few years. The company’s founders, who come from a background in banking and finance, recognized the need for a more efficient and cost-effective payment infrastructure that could be easily integrated with existing banking systems.
“We are thrilled to have received this investment from a group of experienced venture capitalists and angel networks,” said [Founder’s Name], CEO of OneStack. “This funding will enable us to accelerate our growth plans and expand our reach into new markets. We are confident that our technology will continue to disrupt the traditional payment infrastructure space and provide a more efficient and cost-effective solution for banks and financial institutions.”
The investment in OneStack is a testament to the growing importance of fintech in India’s financial landscape. The country’s fintech industry has been growing rapidly in recent years, driven by increased adoption of digital payment methods and a growing demand for financial services from a large and increasingly affluent population.
Pentathlon Ventures, the lead investor in the Series A round, is a venture capital firm that focuses on investing in early-stage fintech companies. The firm’s investment in OneStack is part of its broader strategy to support the growth of fintech companies in India.
“OneStack is a highly innovative company that is addressing a significant pain point in the payment infrastructure space,” said [Investor’s Name], Partner at Pentathlon Ventures. “We believe that the company has a strong potential for growth and are excited to support its expansion plans. We see a lot of potential for fintech companies in India and are committed to supporting the growth of this industry.”
The additional $1 million in funding that OneStack is expected to secure soon will further bolster its growth plans. The company plans to use this funding to expand its team, enhance its technology, and accelerate its sales and marketing efforts.
In conclusion, OneStack’s Series A funding round is a significant development in the fintech space, and the company’s plans to expand its operations into new markets and onboarding more banks are expected to have a significant impact on the industry. With its highly scalable and secure technology, OneStack is well-positioned to continue to grow and disrupt the traditional payment infrastructure space.
Source: https://startuptalky.com/news/onestack-raises-series-a-round/
