Credit card company OneCard in talks to raise $100-M

Mobile-first credit card company OneCard, owned by FPL Technologies, is in talks to raise USD 100 million in a fresh round from new and existing investors. This will be the third infusion in the Pune-based company in 2021, which had raised USD 35 million in two tranches in its Series B round led by Sequoia Capital and QED Fund. OneCard's existing investors include Matrix Partners and Hummingbird Ventures. OneCard offers first-time credit card users a virtual, cellphone-based card to build a credit score. Currently, it offers its services across 12 cities including Mumbai, Delhi-NCR, and Bengaluru.