Private Equity

PE Fund Investments

Digital credit card brand OneCard in talks with Temasek, others to raise funding

Business Line  

Mobile-first credit card brand OneCard's parent FPL Technologies is in talks with Singapore-based Temasek Holdings, among other new and existing global investors, to raise funding at a unicorn valuation. This comes a month after the Pune-based startup had announced its Series C funding round, where it raised USD 75 million at a post-money valuation of USD 750 million. The round was led by existing investor QED Investors along with Janchor Partners, Sequoia Capital India, Matrix Partners and Hummingbird Ventures. The startup follows a bank-led business model to offer a co-branded digital credit card called OneCard which was launched in June 2020. Its core product, is a credit score tracking and credit management product called OneScore