OneStack | ₹12.5 Cr Funding

OneStack, a Mumbai-based banking-technology company for cooperative banks, has raised ₹12.5 Cr in a round led by new investor Shepherd’s Hill, with existing backers Pentathlon Ventures and AVNM Ventures also participating. The company says the money will go towards products for cooperative banks and NBFCs, a segment where small lenders are trying to match the digital services of larger banks. More coverage is under OneStack funding news.

The round

OneStack announced ₹12.5 Cr on 4 November 2026. The company's announcement names Shepherd’s Hill as the lead; Dealroom's report of the deal also says Shepherd’s Hill led, while other coverage lists it as a new investor without naming a lead. The round has no formal stage label in the reports reviewed. Existing investors Pentathlon Ventures and AVNM Ventures took part. The company says it has now raised more than ₹45 crore across four rounds, and that the new capital will fund expansion across cooperative banks and NBFCs and products in payments, core banking and regulatory compliance. No valuation has been reported.

The company's earlier backers also include Yatra Angel Network, 100Unicorns, Venture Catalysts, 9Unicorns, growX ventures, STRIDE Ventures, Samved VC and Silicon Road Ventures, according to the announcement post.

What OneStack does

Founded in 2019 by Amit Kapoor and Vishal Gupta, OneStack sells banking technology so that smaller financial institutions can offer digital banking without building their own infrastructure. Its platform covers mobile banking, UPI issuing and merchant acquiring, QR payments, debit card management and a core banking system called OneCBS. It also offers compliance tools, including integration with the Indian Cyber Crime Coordination Centre (I4C).

The company says it serves more than 200 banks, including state cooperative banks, district central cooperative banks and urban cooperative banks. It says partner banks now operate as UPI issuers and acquirers directly on the NPCI network under their own handles, which lets them keep customer relationships and transaction data. These claims come from the company and have not been independently verified; no partner bank has been named. According to the company, it processed over ₹750 crore in annual UPI transaction value as of February 2026 and is targeting ₹1,000 crore.

"the bank, not an intermediary, at the centre of every payment." — Amit Kapoor, founder and CEO, OneStack

Kapoor previously co-founded and led the payments company Airpay, according to StartupTalky.

The investors

Pentathlon Ventures led OneStack's 2025 round and has now backed it again, as has AVNM Ventures. Shepherd’s Hill is new to the company's cap table in this round.

Why it matters

India's cooperative banks serve many customers outside the metros, but they depend on technology providers to reach UPI and card networks. OneStack says it is extending its tools to NBFCs with customer verification and fraud-reporting features. Kapoor has described the aim as making every Bharat bank a neo-bank. Whether smaller banks can hold their own against larger banks and fintech apps will depend on how widely they adopt such shared infrastructure; the company's own figures are the only public measure of that so far. Readers can follow related deals under Fintech funding news.