OneStack Raises Rs 12.5 Crore Led by Shepherd's Hill as Cooperative Banks Go Live on NPCI UPI

OneStack has raised Rs 12.5 crore in a funding round led by new investor Shepherd's Hill, with participation from existing investors Pentathlon Ventures and AVNM Ventures. BW Disrupt reported the round on November 4, 2026.

Shepherd's Hill Leads OneStack's Latest Round

OneStack said the fresh capital will support its expansion across cooperative banks and non-banking financial companies, along with product development in payments, core banking and regulatory compliance. The company said cooperative banks using its platform have started operating as both UPI issuers and acquirers directly on the National Payments Corporation of India's network, under their own bank handles.

That arrangement lets participating banks issue UPI IDs to customers, onboard merchants and manage payment settlements while retaining their customer relationships and transaction data. OneStack, founded by Amit Kapoor, provides mobile banking, UPI issuing and acquiring, QR payments, debit card management and core banking solutions through its OneCBS platform. The company also offers compliance tools, including integration with the Indian Cyber Crime Coordination Centre.

OneStack currently serves more than 200 banks across India, including state cooperative banks, district central cooperative banks and non-scheduled urban cooperative banks. The company has partnered with a private-sector bank that sponsors more than 250 cooperative banks, and it has been onboarded as a technology service provider on Sahakar Sarathi, a shared services platform promoted by NABARD, NCDC and rural cooperative banks. OneStack plans to use the funding to expand its presence in the cooperative banking sector and extend its technology offerings to NBFCs, including customer verification and fraud-reporting solutions.

With this latest round, OneStack has raised more than Rs 45 crore across four funding rounds. Its investors include Pentathlon Ventures, 9Unicorns, growX Ventures, Stride Ventures, Samved VC, Silicon Road Ventures and Venture Catalysts.

OneStack's Funding History

According to akta.pro company records, OneStack closed an ongoing Series A extension round in February 2026 led by Samved VC and Silicon Road Ventures, with participation from Pentathlon Ventures, 100Unicorns and Venture Catalysts, bringing total funding to approximately $4.24 million. The same records show a $2 million Series A in March 2025 with an additional $1 million tranche led by Pentathlon Ventures, a $2 million seed round in July 2023 with seven investors, and a seed round in August 2022 led by Venture Catalysts.

The same records list total funding of $4.3 million at Series A stage, with the last round dated February 3, 2026, and a target to expand from 200-plus to 500 cooperative banks within two years.