OneStack Secures $2 Million In Funding With this new funding, OneStack plans to digitize over 1,000 cooperative banks and credit societies this year
By Teena Jose •
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OneStack, a company focused on empowering cooperative banks and credit societies in India, has raised $2 million in its latest funding round. This investment will power the company's growth, drive team expansion, foster innovation, and establish nationwide offices, propelling it to unparalleled success.
"This infusion of funds does more than merely enable us to augment our product suite and broaden our footprint across India; it propels our growth journey at an accelerated pace. With these additional resources, we are on the cusp of a revolution, empowering cooperative banks and credit societies to stand their ground in this digital epoch. We are set to transform the banking landscape, revolutionizing customer service and fuelling unprecedented growth," said Amit Kapoor, founder and CEO, OneStack.
In an official release, the company further added, with this new funding, OneStack plans to digitize over 1,000 cooperative banks and credit societies this year, marking a significant milestone in its mission to empower these financial institutions.
OneStack is launching OneCBS (Core Banking Solution), which will further revolutionize the cooperative banking landscape. OneCBS is a cloud-based platform with integrated mobile applications and switch connectivities. This innovative solution enables banks and societies to streamline their operations, enhance customer experiences, and make data-driven decisions, the statement further added.
"With their innovative white-labelled app, OneStack is empowering cooperative banks to provide a personalized digital banking experience to their customers. They have emerged as the catalysts, bridging the divide for the underserved segment by opening the gates to essential digital banking services and contributing both to the Digital Bharat initiative and the Government's financial inclusion goals," said Ishpreet Singh Gandhi, founder and managing partner, Stride Ventures.
