Fintech startup OneStack has raised fresh capital in its ongoing Series A funding round led by Samved VC and Silicon Road Ventures, with participation from existing investors Pentathlon Ventures, 100Unicorns and Venture Catalysts.
The funding amount has not been publicly disclosed. The latest investment follows a $2 million Series A fundraise in March 2025, led by Pentathlon Ventures, with participation from Yatra Angel Network, 100Unicorns and Venture Catalysts.
Founded in 2019 by Amit Kapoor, with Vishal Gupta subsequently joining as co-founder, OneStack provides digital banking infrastructure to cooperative banks and credit societies. The company will use the fresh capital to strengthen its technology stack, upgrade mobile banking applications and expand its UPI, QR payments, SoundBox and Bharat Bill Payment System (BBPS) offerings.
OneStack Targets 500 Cooperative Banks
OneStack currently works with more than 200 cooperative institutions across India and aims to expand its network to around 500 banks over the next two years.
Its platform offers a combination of core banking software, mobile banking applications, NPCI-integrated UPI services and BBPS infrastructure. It operates as both a Technical Service Provider (TSP) and an Application Service Provider (ASP), enabling smaller financial institutions to offer digital services without developing their own technology systems.
The company says its payments infrastructure processes more than ₹750 crore in annual UPI transaction value. It is targeting ₹1,000 crore in annual transaction value by the end of the current financial year. These are company-reported figures.
Helping Cooperative Banks Build Their Own Digital Banking Stack
OneStack's proposition is to allow cooperative banks to offer digital banking services under their own brands rather than depend entirely on third-party payment platforms.
Through its NPCI-integrated infrastructure, participating banks can offer UPI services as issuers and acquirers, issue UPI IDs, onboard merchants and manage payment settlements. This allows institutions to retain greater control over customer relationships and transaction data.
Its technology portfolio also includes OneCBS, its core banking solution, mobile banking, QR payments, debit card management and BBPS integrations.
The startup is also expanding into regulatory and compliance-related technology. Its offerings include integrations for customer verification and fraud reporting, including connections with the Indian Cyber Crime Coordination Centre (I4C).
OneStack’s Previous Funding and Expansion Plans
Before the latest investment, OneStack raised $2 million in March 2025, following earlier funding rounds involving investors such as Venture Catalysts, growX Ventures and Stride Ventures.
The latest capital will support expansion into additional states, deeper payment and billing integrations, core banking deployments and upgrades to its mobile applications.
The opportunity lies in bringing modern banking infrastructure to smaller financial institutions that may not have the resources to build and maintain complex technology systems independently. For OneStack, scaling this model will depend on onboarding more institutions while maintaining reliable payment processing, regulatory compliance and technology support.
Its target of reaching 500 cooperative banks over the next two years will be an important measure of how effectively it can convert investor backing into wider adoption across India's cooperative banking ecosystem.
