OneStack raises Rs 12.5 crore to take cooperative banks deeper into UPI ecosystem
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓OneStack raised ₹12.5 crore to help cooperative banks join the UPI ecosystem.
- ✓Led by Shepherd’s Hill, the funding helps banks act as UPI issuers and acquirers.
- ✓Amit Kapoor said, "Today our partner banks are live as UPI Issuers and Acquirers directly with NPCI, under their own handles."
Story at a Glance
- Category
- BUSINESS
- Reported By
- The Economic Times
- Reading Speed
- 5 Minute(s)
- Market Focus
- India Economy
Synopsis
OneStack, a fintech provider, secured ₹12.5 crore funding to enhance cooperative bank participation in UPI payments. The funding will help expand services among cooperative banks and NBFCs while developing compliance offerings. Partner banks can now act as UPI issuers and acquirers, which improves revenue opportunities. This shift allows banks to maintain direct relationships with customers and merchants while managing transaction data.
Kolkata: OneStack, a fintech infrastructure provider to cooperative banks, has raised ₹12.5 crore in a funding round led by new investor Shepherd’s Hill, with participation from existing investors Pentathlon Ventures and AVNM Ventures. The fresh capital comes as the company enables cooperative banks to connect directly to NPCI’s UPI network as both issuers and acquirers, allowing them to offer digital payment services under their own bank identities and retain a greater share of the resulting revenue.
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The Economic Times
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