OneStack, a Bengaluru-based fintech startup focused on digitising India’s cooperative banking sector, has secured fresh capital in its ongoing Series A round led by Samved VC and Silicon Road Ventures, with participation from existing backers including Pentathlon Ventures, 100Unicorns and Venture Catalysts. The funding underscores investor confidence in the company’s goal to modernise a critical, underserved banking segment.
Background and business model
Founded in 2019 by Amit Kapoor and Vishal Gupta, OneStack provides a SaaS-based digital banking platform designed specifically for cooperative banks and credit societies. The company’s solutions aim to replace costly, complex legacy systems with modular, regulation-ready technology that addresses operational, compliance and customer-engagement needs.
Integrated digital stack for cooperative banks
OneStack’s product suite combines core banking support with customer-facing services such as mobile banking apps, UPI payments, QR-based transactions, BBPS bill payments and SoundBox-enabled POS solutions. By consolidating these capabilities on a single platform, the startup helps cooperative banks streamline workflows, accelerate digital transactions and meet evolving regulatory expectations.
Why cooperative banks matter
Cooperative banks and credit societies are pivotal to financial access in semi-urban and rural India, serving retail customers, small businesses and agricultural communities. Yet many institutions still operate on outdated IT stacks, constraining their ability to offer digital services that customers increasingly demand.
Traction and growth plans
OneStack currently serves more than 200 cooperative banks across multiple states and processes over ₹750 crore in annual UPI transaction value, reflecting growing adoption of its payments infrastructure. With the new funding, the company intends to expand its footprint to roughly 500 cooperative banks within two years and target over ₹1,000 crore in UPI volume.
The broader cooperative ecosystem comprises more than 100,000 institutions managing assets running into several lakh crore rupees. As regulator scrutiny intensifies and customer behaviour shifts toward digital channels, demand for tailored, technology-led transformation is rising—creating a sizeable market opportunity for OneStack.
Use of funds and strategic priorities
Capital will be channelled into fortifying OneStack’s technology platform, enhancing core banking features and deepening payment and billing integrations. The startup also plans geographic expansion into additional states and investments in compliance, reporting and security capabilities to meet stricter supervisory requirements.
Founders say their modular, compliance-first approach helps cooperative banks balance regulatory obligations while competing with commercial banks and fintech apps on customer convenience. Investors cite OneStack’s domain expertise and focused product roadmap as competitive advantages within the fintech ecosystem.
With total funding raised to date estimated at over $4 million, OneStack positions itself as a long-term digital partner for grassroots financial institutions, seeking to advance financial inclusion and strengthen the cooperative banking framework for the digital era.
