OneStack raises ₹12.5 crore for cooperative banking infrastructure
Shepherd’s Hill joins Pentathlon Ventures and AVNM Ventures in backing digital banking, payments and compliance tools.
OneStack has raised ₹12.5 crore from new investor Shepherd’s Hill and existing backers Pentathlon Ventures and AVNM Ventures. The proceeds will support expansion among cooperative banks and non-banking financial companies, along with product development in payments, core banking and compliance.
Founded by Amit Kapoor in 2019, OneStack provides infrastructure that lets smaller financial institutions offer digital services without developing each system themselves. Its products include mobile banking, UPI issuing and merchant acquiring, QR payments, debit-card management and the OneCBS core-banking system.
The company says its platform allows cooperative banks to offer UPI services under their own bank handles and retain customer relationships and transaction data. It is also extending tools for verification, fraud reporting and regulatory workflows to NBFCs.
OneStack says it has raised ₹45 crore across four rounds, including the latest ₹12.5 crore. The cumulative total is separate from the amount in this financing.
Use of funds
Cooperative bank and NBFC expansion
Payments and core-banking product development
Regulatory compliance technology