Mumbai-based fintech platform OneStack has raised $2 Mn in a Series A funding round led by Pentathlon Ventures.
The startup plans to expand into southern and eastern India, targeting an additional 200 banks to achieve a pan-India market share of 20%.
OneStack aims to deploy its core banking system solution such as unified payment interface (UPI) and enable Bharat Bill Payment System (BBPS) for various services in the country.
Founded in 2019, OneStack offers core banking solutions to rural cooperative banks and helps integrate other financial services, such as insurance and investments, into their offerings.