Fintech OneStack raises $2 million in funding from GrowX, Stride Ventures, others

Gurugram-based fintech startup OneStack has raised $2 million in equity funding from a clutch of venture funds, including GrowX, Stride Ventures, 9Unicorns and Venture Catalyst.

OneStack builds technology for Indian cooperative banks and credit societies and is aiming to digitise more than 1,000 of them this year. These last-mile financial institutions are still operating on legacy systems and are in many cases run on physical books and ledgers. OneStack aims to offer them a digital stack that can help digitise their processes quickly and make life easier for their customers too.

The pre-series A round will help expand the team, drive growth and also fund innovation that can strengthen its product offerings, the company said in a release.


OneStack was founded in 2019 by Amit Kapoor, who was previously the chief executive officer of digital payments firm Airpay. It had raised a $244,000 seed round in 2021 from a bunch of angel investors and a few funds that also participated in this round.

“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,” said Kapoor.

OneStack plans to launch a core banking solution called OneCBS, targeted at the cooperative banking landscape. OneCBS is a cloud-based platform with integrated mobile applications, which will help banks and societies streamline their operations, enhance the customer experience, and drive data-based decisions.