OneStack, a prominent technology company dedicated to empowering cooperative banks and credit societies in India, has successfully raised $2 million in its latest funding round. This substantial investment will fuel the company’s growth, facilitate team expansion, drive innovation, and establish nationwide offices, propelling it to unparalleled success.
With the infusion of this new funding, OneStack is poised to digitize over 1,000 cooperative banks and credit societies this year, a significant achievement in its mission to empower these financial institutions. The funding round attracted a diverse group of investors, including growX, Stride, 9Unicorns, Venture Catalyst, Mr. Sunil Kulkarni, and existing investors.
OneStack is also set to launch OneCBS (Core Banking Solution), a cutting-edge cloud-based platform with integrated mobile applications and switch connectivities. This innovative solution is set to revolutionize the cooperative banking landscape by enabling banks and societies to streamline their operations, enhance customer experiences, and make data-driven decisions.
Commenting on the funding Amit Kapoor, Founder and CEO of OneStack said “We are thrilled to have the support of our investors as we embark on this exciting phase of growth, 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. Our mission extends beyond transformation and growth – we are dedicated to financial inclusion, bridging the gap for the next 40 crore Bharat customers. We are set to transform the banking landscape, revolutionizing customer service and fuelling unprecedented growth.”