OneStack has raised undisclosed capital in its ongoing Series A round, led by Samved VC and Silicon Road Ventures, to expand its digital banking platform for India’s cooperative banks.
Mumbai-based fintech startup OneStack has raised undisclosed capital as part of its ongoing Series A funding round, as it looks to deepen digital adoption across India’s vast cooperative banking ecosystem.
The round was led by Samved VC and Silicon Road Ventures, with participation from existing investors Pentathlon Ventures, 100Unicorns, and Venture Catalysts. The company also said it has seen interest from select global investors.
Building digital rails for cooperative banking
Founded in 2019 by Amit Kapoor and Vishal Gupta, OneStack focuses on providing SaaS-based digital banking infrastructure purpose-built for cooperative banks and credit societies — a segment that has historically lagged commercial banks in technology adoption.
The company currently works with more than 200 cooperative institutions across India and plans to scale that footprint to 500 banks over the next two years.
Unlike generic core banking providers, OneStack positions itself as a full-stack digital layer tailored to the operational and regulatory realities of cooperative institutions.
Where the new capital will go
The fresh funding will be used to expand and strengthen OneStack’s end-to-end digital banking platform, including:
- Mobile banking applications
- UPI and QR-based payment solutions
- SoundBox integrations
- Bharat Bill Payment System (BBPS) services
- Cooperative-focused core banking solutions
The company said it currently processes over ₹750 crore in annual UPI transaction value and is targeting ₹1,000 crore by the end of the current financial year.
A sector undergoing structural change
India’s cooperative banking sector comprises more than 1.1 lakh institutions with combined assets of approximately ₹24.5 lakh crore. While these banks play a critical role in rural credit, MSME lending, and financial inclusion, many have faced challenges in meeting rising regulatory, compliance, and digital expectations.
Recent regulatory scrutiny and governance reforms have accelerated demand for modern, compliant technology platforms that can be deployed without the cost and complexity typically associated with large commercial banking systems.
“Regulatory expectations around digital infrastructure and governance have risen significantly,” said Amit Kapoor, co-founder of OneStack. “Cooperative banks are increasingly seeking modern, compliant solutions that can be deployed efficiently.”
Why investors are paying attention
Investors backing OneStack see an opportunity in a segment that remains underserved despite its scale.
Amit Srivastava, managing partner at Samved VC, said OneStack has built “a scalable and compliant SaaS platform designed specifically for cooperative banks,” highlighting the company’s focus on regulatory alignment and operational simplicity.
Sid Mookerji, managing partner at Silicon Road Ventures, added that the founding team’s understanding of cooperative banking workflows and compliance requirements positions OneStack well for adoption at scale.
Funding history and growth plans
OneStack previously raised $2 million in March 2025 in a round led by Pentathlon Ventures. With the latest infusion, the company’s total funding to date stands at approximately $4.24 million.
Looking ahead, OneStack plans to:
- Expand into additional Indian states
- Accelerate core banking system deployments
- Deepen integrations across payments, billing, and regulatory reporting
The company is betting that as cooperative banks modernise, demand will shift from piecemeal digital tools to integrated platforms that can support payments, compliance, and customer engagement in one system.
A quiet but critical layer of India’s fintech stack
While consumer-facing fintech startups often dominate headlines, infrastructure players like OneStack are increasingly seen as essential to modernising legacy financial institutions.
As India’s cooperative banks come under greater regulatory and competitive pressure, platforms that combine compliance, scalability, and ease of deployment may play an outsized role in shaping the sector’s digital future.
If OneStack executes on its expansion plans, it could become a foundational technology provider for a segment that touches millions of customers — but has long operated behind the scenes of India’s financial system.
