Pentathlon Ventures Leads USD 2 Mn Funding in OneStack to Modernise Cooperative Banking With this new funding, OneStack plans to expand into South and East India, targeting an additional 200 banks to achieve a pan-India market share of 20%.
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OneStack, a fintech platform focused on cooperative banks in Bharat, has secured USD 2 million in Series A funding, with an additional USD 1 million expected as part of the same round.
The investment was led by Pentathlon Ventures, with participation from Yatra Angel Network and continued backing from existing investors 100Unicorns and Venture Catalysts.
This funding highlights OneStack's commitment to financial inclusion and digital transformation in underserved markets through scalable technology solutions.
Founded by Amit Kapoor and Vishal Gupta, OneStack operates as both a Technical Service Provider (TSP) and an Application Service Provider (ASP), offering a unified technology stack to modernise cooperative banking.
Its solutions include Core Banking, Mobile Banking, NPCI UPI Switch, and BBPS Switch, enabling regional and rural banks to compete with larger financial institutions.
The platform claims that it already serves over 200 cooperative banks, commanding a 20% market share in North and West India, and supporting seven out of 34 State Cooperative Banks. Through its infrastructure, OneStack reaches 35 crore Indians and six crore MSMEs, strengthening financial services across the country.
"Our mission is to make every Bharat bank a neo-bank. With this funding, we aim to extend our footprint into South and East India, targeting an additional 200+ banks to achieve a pan-India market share of 20%. Simultaneously, we will deploy our CBS across 50+ institutions and onboard 100+ banks onto our NPCI UPI and BBPS Switch, enabling them to offer UPI services under their own branding. This expansion will directly impact financial inclusion for 5 crore Indians over the next 18 months," said Amit Kapoor, Co-founder of OneStack.
The cooperative banking sector is a crucial pillar of financial access, serving nearly 50% of India's bankable population. However, it has historically lacked digital solutions, limiting growth and accessibility. OneStack is bridging this gap by providing banks with tools to increase CASA deposits, offer credit facilities, and introduce insurance products through a SaaS-based model.
The company's UPI Switch and BBPS Switch enable partner banks to independently issue branded UPI IDs and process Bharat BillPay transactions, reducing their reliance on third-party platforms. Since its last funding round, OneStack has deployed over 6,000 Soundboxes in 14 regional languages, improving payment connectivity in rural areas.
Apoorva Ranjan Sharma, Managing Director, Venture Catalysts, said, "OneStack's unique positioning as a full-stack enabler for cooperative banks aligns with our vision of backing platforms that democratize access to critical infrastructure. Their ability to penetrate Tier II/III markets and deliver ROI-driven solutions positions them as a catalyst for India's next wave of banking digitisation."
"India's cooperative banking sector, serving over 230 million people, has long been underserved in digitisation. OneStack is bridging this gap by empowering these banks with cutting-edge financial technology. Onestack is not just about digitisation but about unlocking new efficiencies, trust, and financial inclusion at scale," added Sandeep Chawda, Managing Partner at Pentathlon Ventures.
As OneStack scales further, its asset-light SaaS model ensures predictable revenue while providing essential digital infrastructure to cooperative banks across Bharat.
