OneStack Raises Rs. 125 mn as Cooperative Banks Go Live on UPI
ECONOMY & POLICY

OneStack Raises Rs. 125 mn as Cooperative Banks Go Live on UPI

Fintech infrastructure company OneStack has raised Rs. 125 mn in a funding round led by new investor Shepherd’s Hill, with participation from existing investors Pentathlon Ventures and AVNM Ventures. The company said the capital would support its expansion across cooperative banks and non-banking financial companies (NBFCs), as well as product development in payments, core banking and regulatory compliance.

The funding comes as cooperative banks using OneStack’s platform have begun operating as both Unified Payments Interface (UPI) issuers and acquirers directly on the National Payments Corporation of India’s (NPCI) network. Under their own bank handles, participating institutions can issue UPI IDs to customers, onboard merchants and manage payment settlements while retaining customer relationships and transaction data.

With the latest round, OneStack has raised more than Rs. 450 mn across four funding rounds. Its investors include Pentathlon Ventures, 9Unicorns, growX Ventures, Stride Ventures, Samved VC, Silicon Road Ventures and Venture Catalysts.

Founded by Amit Kapoor, OneStack provides mobile banking, UPI issuing and acquiring, QR payments, debit card management and core banking services through its OneCBS platform. It also offers compliance tools, including integration with the Indian Cyber Crime Coordination Centre, to support financial institutions with regulatory and operational requirements.

OneStack currently serves more than 200 banks across India, including state cooperative banks, district central cooperative banks and non-scheduled urban cooperative banks. The company has partnered with a private-sector bank that sponsors more than 250 cooperative banks and has been onboarded as a technology service provider on Sahakar Sarathi, a shared services platform promoted by NABARD, NCDC and rural cooperative banks. OneStack plans to expand its presence in cooperative banking and extend its technology offerings to NBFCs, including customer verification and fraud-reporting solutions.

Fintech infrastructure company OneStack has raised Rs. 125 mn in a funding round led by new investor Shepherd’s Hill, with participation from existing investors Pentathlon Ventures and AVNM Ventures. The company said the capital would support its expansion across cooperative banks and non-banking financial companies (NBFCs), as well as product development in payments, core banking and regulatory compliance. The funding comes as cooperative banks using OneStack’s platform have begun operating as both Unified Payments Interface (UPI) issuers and acquirers directly on the National Payments Corporation of India’s (NPCI) network. Under their own bank handles, participating institutions can issue UPI IDs to customers, onboard merchants and manage payment settlements while retaining customer relationships and transaction data. With the latest round, OneStack has raised more than Rs. 450 mn across four funding rounds. Its investors include Pentathlon Ventures, 9Unicorns, growX Ventures, Stride Ventures, Samved VC, Silicon Road Ventures and Venture Catalysts. Founded by Amit Kapoor, OneStack provides mobile banking, UPI issuing and acquiring, QR payments, debit card management and core banking services through its OneCBS platform. It also offers compliance tools, including integration with the Indian Cyber Crime Coordination Centre, to support financial institutions with regulatory and operational requirements. OneStack currently serves more than 200 banks across India, including state cooperative banks, district central cooperative banks and non-scheduled urban cooperative banks. The company has partnered with a private-sector bank that sponsors more than 250 cooperative banks and has been onboarded as a technology service provider on Sahakar Sarathi, a shared services platform promoted by NABARD, NCDC and rural cooperative banks. OneStack plans to expand its presence in cooperative banking and extend its technology offerings to NBFCs, including customer verification and fraud-reporting solutions.

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