Fintech infra firm OneStack raises Rs.12.5 Cr

Mumbai-based OneStack has raised INR 12.5 crore in a funding round featuring new investor Shepherd's Hill and existing investors Pentathlon Ventures and AVNM Ventures.Founded in 2019 by Amit Kapoor, OneStack provides technology infrastructure that enables smaller financial institutions to offer digital banking services without developing their own internal systems. The company’s platform includes mobile banking, UPI issuing and merchant acquiring, QR payments, debit card management, and its OneCBS core banking system.The company plans to use the new funds to expand its presence among cooperative banks and non-banking financial companies (NBFCs). Additionally, the firm intends to focus on product development in the areas of payments, core banking, and regulatory compliance.