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OneCard, a mobile-first credit card startup, secures Rs 72 crore (~$7.6 million) in its ongoing Series D funding round. Peak XV Partners leads the investment, joined by existing investor Z47 (formerly Matrix Partners India), Hummingbird Ventures, and multiple angel backers. The round highlights continued investor confidence in the company’s digital credit card platform.
Mobile-first credit card startup OneCard secures Rs 40 crore (~$4.5 million) in debt funding from its existing investor, Alteria Capital. The funding supports the company’s growth in the digital credit card space, targeting financially underserved urban consumers. OneCard operates as a neobank offering instant credit cards via a mobile app.
OneCard has halted the issuance of new credit cards following requests for clarification from the Reserve Bank of India (RBI) regarding its operations. The RBI is engaging with partner banks to review OneCard’s business model and compliance. The move impacts customers awaiting new card approvals while the regulatory scrutiny continues.
OneCard raises $25.5 million in funding from investors including QED Investors, BTV, Peak XV Partners, and Z47. The round supports the fintech company’s expansion and product development. OneCard focuses on digital financial solutions for consumers.
