Onecard Funding, Valuation & Shareholders Breakdown – 2024

OneCard funding, valuation and shareholders breakdown 2023

In a world often clouded by complex and impersonal transactions, OneCard shines as your approachable and friendly financial companion. In the fast-paced world of fintech, few startups have made as big a splash as OneCard. With its sleek metal card and innovative digital-first approach to credit, OneCard has garnered attention from consumers and investors alike. In this article, we will take a closer look at OneCard funding history, its valuation, and the breakdown of its shareholders that led to its massive evolution.

OneCard funding, valuation and shareholders breakdown 2023

Imagine a credit card that seamlessly blends the tangible elegance of a metal card with the boundless possibilities of digital finance.

OneCard is not just a credit card; it’s a revolution. Beyond being just a credit card, OneCard is a catalyst for change, a financial instrument meticulously crafted for the modern era.

OneCard Company Profile 

In an age marked by rapid technological advancement and a shift towards digital living, OneCard emerges as a fresh and transformative player in the world of finance. With a unique blend of cutting-edge technology, a sleek physical card, and a user-centric approach, OneCard is rewriting the rulebook on what a credit can be. Founded in 2019. 

OneCard offers a digital-first credit card designed to cater to the needs and preferences of the modern generation. The card is entirely app-based, providing users with a seamless and convenient way to manage the finances.

OneCard company profile

Key points of OneCard

  • Founded in 2019, by three bankers Vibhav Hathi, Rupesh Kumar, and Anurag Sinha.
  • Serves in the financial services industry.
  • Parent company is FPL Technologies Pvt. Ltd.
  • Located in Pune, Maharashtra, India.
  • Serves in the B2C (Business-to-Customer) model.
  • In B2C, OneCard ties up with various banks and provides services of credit card offers directly to customers.
  • OneCard Is issued by approved banks by RBI and financial institutions.
  • Financial institutions are South Indian Bank, CSB Bank, Federal Bank, SBM Bank, BoB Financial.
  • OneCard is a mobile based app, which can be operated from anywhere as long as they have access to the internet.
  • OneCard started gaining recognition in the fintech industry shortly after its launch. 
  • OneCard’s latest revenue accounted for Rs.83.78 crore as compared to its revenue in 2021 of Rs.10.78 crore. 
  • OneCard attained the status of being a Unicorn Company in 2022, after raising Rs.802 crore ($100 million).

Note: We have a detailed article on OneCard Benefits. To know more about it check it once!

OneCard Funding 

One of the clearest indicators of a startups trajectory is its ability to secure funding, and OneCard has demonstrated remarkable prowess in this arena. OneCard has successfully raised significant funding through various rounds, attracting attention from venture capital firms and capitals.

This capital injection has enabled the company to expand its operations, develop new features, and explore growth opportunities. 

  • OneCard raised its funding through a venture series unknown round on January 1, 2022. The amount remains undisclosed. 
  • Earlier OneCard has raised a total funding of a whopping amount $233 million in over six rounds, however their amounts and investors remain undisclosed. 
  • Its latest funding round accounted for $107 million on July 4, 2022.
OneCard funding

Factors that led to OneCard funding 

Innovative Product or Service – Fintech often attract funding when they offer a unique and innovative product or service that addresses a specific gap in the market. OneCard’s digital-first credit card and its approach to simplifying the credit  card experience likely garnered attention for its innovation.

Revenue Growth – Investors are often interested in companies that show the potential for revenue growth. Positive revenue trends or a clear monetization strategy can make a company more attractive for funding.

User Adoption and Traction – Demonstrating that users are adopting and engaging with the product or service is a significant factor. Metrics such as user growth, retention rates, and customer feedback can boost investor confidence.

Clear Business Model – A well-defined and sustainable business model that outlines how the company plans to generate revenue and achieve profitability is crucial for securing funding.

OneCard Valuation and Shareholders 

Now, let’s turn our attention to OneCard’s valuation. The company’s valuation is a testament to the confidence investors have in vision and potential. The valuation of OneCard is influenced by a combination of factors, including its user base, revenue, profitability, market opportunity. 

It represents not only the company’s current financial standing but also its potential for future growth and market dominance in the fintech sector. According to the valuation in October,2022, it was recorded to be $1.3 billion. However its latest valuation as per 2023, recorded to be $1.5 billion. 

The company’s rapid rise to prominence can be attributed to a combination of factors, but its valuation is where the magic truly unfolds.

OneCard valuation

Key factors for OneCard Valuation

User base and Growth – OneCard’s valuation is influenced by the size and growth of its user base. A rapidly expanding user community signals strong demand for its services and contributes positively to its valuation.

Revenue and Profitability – Financial performance is a key driver of valuation. Positive revenue trends and a path to profitability demonstrate the company’s ability to monetize its offerings effectively.

Strategic Partnerships – Partnerships with established financial institutions or other fintech players can validate OneCard’s business model and contribute to a higher validation.

Funding rounds – Successful funding rounds and the caliber of investors involved can provide insights into OneCard’s valuation trajectory. Rising valuations over successive rounds indicate investor confidence. 

Innovation and Technology – Fintech companies thrive on innovation. OneCard’s investments in cutting-edge technology and its ability to adapt to industry trends enhanced its valuation. 

Market Opportunity – The potential market size and growth opportunities in the fintech sector play a significant role in OneCard’s valuation. A larger and expanding market can lead to a higher valuation.

The Shareholders

Now let’s start with the shareholders part. As per the report of July 18, 2022, Funds hold majority of shares in the company of around 64.68%. While founders hold 28.39% shares in the company, with a net worth of Rs. 3000 crore. Following it,  the Employee Stock Ownership Plan (ESOP) holds 5.36% shares in the company, Angels hold 5.36% shares, Enterprise holds 0.05% shares, and other people hold 0.07% shares in the company.

OneCard shareholders

Prominent shareholders of OneCard 

Founders – The founders who founded the company hold a significant stake in the company. They are usually among the initial shareholders in the company. 

Investors – These are individuals, venture capital firms, private equity firms, or other entities that have invested in the capital in the exchange for equity. Depending on the funding rounds of the company, investors hold various ownership percentages. 

Employees – OneCard offers its employees stock options or equity grants as a part of their compensation packages, making employees shareholders to varying degrees. 

Angel Investors – Angel investors provide capital to startups like OneCard in exchange for ownership equity or convertible debt. These have played a critical role in the early stages of the company’s development.


OneCard’s funding, valuation and shareholders breakdown reveal a captivating story of growth, innovation, and investor confidence. Its journey from a promising startup to a fintech disruptor showcases the potential of forward-thinking companies in the financial industry. As OneCard navigates the complex landscape of modern finance, its story is one to watch, offering a glimpse into the future of banking and credit services.

OneCard profile

As OneCard charts its course toward reshaping the credit landscape, it stands as a beacon of innovation and a compelling entity to watch closely in the unfolding chapters of the financial world.

Related Posts:

Photo of author
Published By: Aashita Singh
Notify of
Inline Feedbacks
View all comments