OneStack, a Bengaluru-based fintech focused on digitising cooperative banks and credit societies, has raised fresh capital in its ongoing Series A round led by Samved VC and Silicon Road Ventures, with participation from Pentathlon Ventures, 100Unicorns and Venture Catalysts. The funding underscores investor confidence in OneStack’s effort to modernise a largely underserved segment of India’s banking system.
Business model and founding
Founded in 2019 by Amit Kapoor and Vishal Gupta, OneStack offers a SaaS-based digital banking stack customised for cooperative banks and credit societies. Its platform is designed to reduce the complexity and cost of migration from legacy systems while meeting the operational and regulatory requirements specific to this segment.
Product offerings and technological scope
OneStack’s integrated solution includes mobile banking applications, UPI payments, QR-based transactions, BBPS bill-pay services, SoundBox-enabled POS, and core banking support. Consolidating these services on a single platform aims to streamline operations, improve customer engagement and simplify regulatory reporting for cooperative institutions.
Why cooperative banks need such platforms
Cooperative banks play a vital role in extending formal financial services to semi-urban and rural India, but many continue to use outdated infrastructure that hampers digital service delivery. As customers expect seamless digital experiences and regulators tighten oversight, affordable, scalable technology stacks have become essential for these institutions to remain competitive and compliant.
Traction and growth ambitions
OneStack currently serves over 200 cooperative banks across multiple states and processes more than ₹750 crore in annual UPI transaction volume, signalling strong uptake of its payments and digital banking capabilities. With the new capital, the company aims to onboard roughly 500 cooperative banks within two years and push UPI volumes past ₹1,000 crore.
The cooperative banking ecosystem in India comprises more than 100,000 institutions overseeing assets worth several lakh crore rupees. This scale, combined with evolving regulatory expectations, presents a significant opportunity for technology providers that can offer sector-specific, regulation-ready solutions.
Use of funds and strategic priorities
Proceeds from the round will be directed toward strengthening OneStack’s technology platform, enhancing core banking functionality, deepening payment and billing integrations, and improving compliance, reporting and security capabilities. The company also plans geographic expansion into additional states to broaden its footprint.
Founders say the modular, regulation-ready nature of OneStack’s platform helps cooperative banks navigate rising compliance demands while competing with commercial banks and fintech apps on customer experience. Investors cited the startup’s domain expertise and focused product strategy as key competitive advantages.
With total funding now estimated at over $4 million, OneStack is positioning itself as a long-term digital partner for cooperative banks, aiming to accelerate financial inclusion by modernising frontline banking infrastructure at the grassroots level.
