OneStack, a Gurugram-based fintech company focused on digitising India’s cooperative banking ecosystem, has raised an undisclosed capital in its ongoing Series A funding round led by Samved VC and Silicon Road Ventures, with continued participation from existing investors Pentathlon Ventures, 100Unicorns and Venture Catalysts. The company said the round has also seen interest from several global investors.

Founded in 2019 by Amit Kapoor and Vishal Gupta, OneStack provides a SaaS-based banking infrastructure platform for cooperative banks and credit societies. The company currently works with over 200 cooperative institutions across India and plans to scale it to 500 such banks in next two years. Meanwhile, it processes more than Rs 750 crore in annual UPI transaction value through its NPCI-integrated payments stack and is on path to reach the Rs 1000 crore target this year end.

The fresh capital will be used to expand OneStack’s end-to-end digital banking platform, which includes mobile banking applications, UPI and QR payments, SoundBox integrations, Bharat Bill Payment System (BBPS) services, and cooperative-focused core banking solutions.

OneStack had earlier raised $2 million in March 2025 led by Pentathlon Ventures, with participation from Yatra Angel Network, 100Unicorns and Venture Catalysts. Including earlier funding rounds, the company has raised approximately $4.24 million to date.

India’s cooperative banking sector, which comprises more than 1.1 lakh institutions and manages consolidated assets of Rs 24.5 lakh crore, is undergoing a technology-led transition as the Reserve Bank of India (RBI) increasingly links governance standards, expansion approvals and compliance requirements to the adoption of core banking systems and digital infrastructure. A large proportion of urban cooperative banks continue to operate at sub-scale levels, intensifying demand for cost-effective, regulator-aligned technology platforms.

OneStack has expanded from a mobile banking provider into a full-stack technology partner for cooperative banks, enabling institutions to digitise operations while retaining local relevance. Its platform allows banks to deploy payments, core banking and compliance modules in a modular manner, reducing implementation timelines and operational complexity.

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“Regulatory expectations around digital infrastructure and governance have increased significantly over the last few years. We are seeing growing demand from cooperative banks that want to modernise operations quickly without adopting heavyweight enterprise systems. This funding will help us scale our platform and support more institutions across the country,” said Amit Kapoor, Co-founder, OneStack.

“OneStack has built a compliant and scalable SaaS platform tailored specifically to the needs of cooperative banks even as the cooperative banking segment still remains under-digitised despite its systemic importance,” said Amit Srivastava, Managing Partner at Samved VC.

To this Sid Mookerji, Managing Partner of Silicon Road Ventures said, “The company’s understanding of cooperative banking workflows and regulatory constraints, combined with on-ground execution, makes the platform well suited for adoption at scale.”

OneStack plans to use the funds to expand into additional states, accelerate core banking deployments, and deepen integrations across payments, billing and regulatory reporting.