OneStack Secures $2 Million to Expand Cooperative Banking in India

OneStack, a fintech startup focused on digitizing cooperative banks in India, has raised $2 million in Series A funding, with an additional $1 million expected. The funding round was led by Pentathlon Ventures, along with contributions from Yatra Angel Network, 100Unicorns, and Venture Catalysts. OneStack aims to expand its operations into South and East India, targeting over 200 additional banks and aiming for a 20% market share across India. The platform provides a comprehensive technology stack, including Core Banking and UPI services, to help regional banks modernize and compete with larger financial institutions. Currently, OneStack supports over 200 cooperative banks, serving 35 crore Indians and six crore MSMEs, and is committed to enhancing financial inclusion. Co-founder Amit Kapoor highlighted that this expansion could positively impact financial services for 5 crore Indians in the next 18 months.