OneStack, a Mumbai-based fintech infrastructure startup, has raised ₹125 million from Shepherd's Hill, Pentathlon Ventures, and AVNM Ventures. The company builds digital banking systems for smaller financial institutions. These institutions can offer digital services without developing their own technology.
Funding so far
OneStack previously raised US$2 million in Series A funding in March 2025. That round was led by Pentathlon Ventures with participation from Yatra Angel Network, 100Unicorns, and Venture Catalysts. Including the latest round, the company has raised ₹450 million across four funding rounds.
Customer reach
OneStack was founded by Amit Kapoor in 2019. The company claims to serve more than 200 banks across India. It has also partnered with a large private bank that sponsors more than 250 cooperative banks.
What the platform does
The platform covers mobile banking, UPI issuing and merchant acquiring, QR payments, debit card management, and core banking. Partner cooperative banks can now operate directly with NPCI as UPI issuers and acquirers under their own bank handles. The startup also plans to extend customer verification and fraud reporting tools to NBFCs.
The new capital will support expansion among cooperative banks and NBFCs. It will also fund product development in payments, core banking, and regulatory compliance. OneStack has been onboarded as a technology service provider on Sahakar Sarathi.