OneCard is a fintech company offering metal credit cards managed through a mobile-first application. The platform enables users to track spending, manage card controls, earn rewards, and convert transactions into installment payments. OneCard also allows credit limit sharing with family members and provides real-time insights into spending behavior, focusing on a transparent and user-friendly credit experience.
Keep reading to explore OneCard’s funding history, investors, and growth roadmap.
What Is OneCard and What Does It Do?
Founded in 2019, OneCard is a digital-first credit card platform designed to simplify credit usage through a mobile application. The company offers metal credit cards with features such as real-time expense tracking, reward management, EMI conversion, and spending controls.
OneCard partners with regulated banking institutions while focusing on delivering a modern, app-led credit experience to consumers across India.
How Much Funding Has OneCard Raised?
1. Seed Round
- Amount Raised: ~$5 million
- Date: 2019
- Key Investors: Matrix Partners India, Sequoia Capital India
- Purpose: Build core credit card infrastructure and mobile application
2. Series A Round
- Amount Raised: ~$14 million
- Date: 2020
- Key Investors: Sequoia Capital India, Matrix Partners India
- Purpose: Launch credit card product and onboard early users
3. Series B Round
- Amount Raised: ~$20 million
- Date: 2021
- Key Investors: Temasek, Peak XV Partners
- Purpose: Scale customer acquisition and enhance product features
4. Series C Round
- Amount Raised: ~$87.5 million
- Date: 2021
- Key Investors: GIC, Temasek
- Purpose: Expand lending capacity and strengthen risk analytics
5. Series D Round
- Amount Raised: $107 million
- Date: Jul 04, 2022
- Valuation: $1.32 billion
- Key Investors: Temasek, Peak XV Partners
- Purpose: Accelerate nationwide growth and deepen fintech partnerships
6. Series D Extension
- Amount Raised: $28.5 million
- Date: Nov 18, 2024
- Key Investors: Temasek, GIC
- Purpose: Support balance sheet growth and credit portfolio expansion
Total Funding Raised: $262 million Latest Funding Date: Nov 18, 2024 Latest Valuation: ₹11,600Cr Employee Count: 954
Key Investors
- Temasek
- Details: Global investment company headquartered in Singapore
- Focus Areas: Financial services, technology, consumer platforms
- GIC
- Details: Sovereign wealth fund of Singapore
- Focus Areas: Fintech, consumer credit, long-term growth assets
- Peak XV Partners
- Details: Venture capital firm formerly known as Sequoia Capital India
- Focus Areas: Fintech, SaaS, and consumer internet businesses
Where Is OneCard’s Headquarters?
OneCard is headquartered in Pune, Maharashtra, India, serving as the central hub for its product development, risk management, and operational teams.
What’s Next for OneCard?
OneCard aims to expand its credit offerings, enhance underwriting and risk analytics, and grow its customer base while focusing on sustainable lending and regulatory compliance within India’s fintech ecosystem.
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