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Founded
2019
Headquarters
Pune (India)
Status
Series D
Company Details
OneCard is a pioneering fintech company that has revolutionized the digital banking landscape by offering a comprehensive suite of financial services and products. Founded in 2019, OneCard is headquartered in Pune, Maharashtra, India, and operates as a subsidiary of FPL Technologies Private Limited. The company primarily serves the Indian market but has ambitions to expand globally.
Industry and Core Products/Services
OneCard operates in the financial services sector, specializing in digital payment solutions. Its core products include a metal credit card and a mobile app that enables users to manage their credit cards seamlessly. The app supports UPI payments, bill payments via BBPS, and offers features like credit score tracking through its sister product, OneScore.
Business Model & Revenue Streams
Revenue Generation
OneCard generates revenue primarily through the following channels:
Interest and Fees: The company earns interest on credit card transactions and charges fees for premium services and credit offerings.
Partnerships and Merchant Fees: OneCard partners with merchants to generate transaction-based revenue, leveraging its user base for targeted promotions.
Freemium Model: Basic services are offered for free, while premium features and credit services are monetized, creating a tiered revenue structure.
User Segmentation
OneCard primarily targets the B2C segment, focusing on individual consumers, particularly first-time credit card users. However, its services also appeal to a broader demographic, including students, gamers, and e-commerce enthusiasts.
Growth Strategy
OneCard's growth strategy is multifaceted:
Market Expansion: The company aims to expand its services beyond India, targeting global markets.
Product Innovation: Continuous development of new financial products and features to enhance user experience.
Partnerships: Collaborations with financial institutions to expand its offerings and increase market reach.
Acquisitions: Potential strategic acquisitions to bolster its position in the fintech sector.
Key Metrics
Total Equity Funding
$262Million
No. of Funding Rounds
9
Latest Funding Round
$28.5Million, Series D
as of November 18, 2024
Post Money Valuation
$1.37Billion
as of November 18, 2024
Funding Multiple
4
as of November 12, 2024
Investors
QED Investors
and 8 moreEmployee Count
960
Similar Companies
Infinity
Exit Details
-
All Funding Rounds
| Date | Round Name | Amount | Valuation | Revenue | Revenue Multiple | Investors |
|---|---|---|---|---|---|---|
| November 18, 2024 | Series D | $28.5Million | $1.37Billion | - | - | QED Investors, Better Tomorrow Ventures, Peak XV Partners, Z47 , Matrix Partners India |
| March 12, 2024 | Series D | $918.0K | $1.3Billion | $177.0Million | - | Alteria Capital |
| May 23, 2023 | Series D | $241.0K | $1.3Billion | $91.2Million | 13.8x | Alteria Capital |
| July 4, 2022 | Series D | $107.0Million | $1.3Billion | $33.4Million | 37.0x | Temasek, Sequoia Capital, GIC, QED Investors, Hummingbird Ventures, Ocean View Investment, Sarv Investments, Peak XV Partners ,Avendus |
| December 29, 2021 | Series C | $76.0Million | $740.0Million | $10.4Million | - | QED Investors, Hummingbird Ventures, Invopps, Ocean View Investment, Sarv Investments, Z47, Peak XV Partners, Sequoia Capital , Ocean View Investments Group, Redwood Trust, Matrix Partners India |
| January 29, 2021 | Series B | $34.9Million | $185.0Million | $1.9Million | - | Peak XV Partners, Hummingbird Ventures, QED Investors, Ocean View Investment, DMI Sparkle Fund, Z47, Sequoia Capital , Redwood Trust, Matrix Partners India |
| April 15, 2020 | Series A | $10.0Million | $48.6Million | $318.0K | - | Hummingbird Ventures, QED Investors, DMI Sparkle Fund, AMS Indo-pacific Advisors, Z47, Peak XV Partners, Sequoia Capital , Redwood Trust |
| July 12, 2019 | Series A | $4.5Million | $11.3Million | - | - | Z47, QED Investors, AMS Indo-pacific Advisors, Peak XV Partners, Sequoia Capital ,Matrix Partners India, Redwood Trust |