OneStack Company Profile

Background

Overview

Founded in 2019, OneStack is a Gurugram-based fintech company dedicated to digitizing cooperative banks and credit societies across India. The company's mission is to bridge the technological gap in the cooperative banking sector, enabling these institutions to offer modern, digital-first services to their customers. By providing comprehensive digital solutions, OneStack aims to enhance financial inclusion and empower cooperative banks to compete effectively in the evolving financial landscape.

Key Strategic Focus

Core Objectives

• Digitization of Cooperative Banks: Transforming traditional cooperative banks into neo-banks by integrating advanced digital solutions.

• Financial Inclusion: Extending banking services to underserved and unbanked populations through technology.

Areas of Specialization

• Core Banking Solutions (CBS): Offering cloud-based platforms that streamline banking operations.

• Mobile Banking Applications: Developing white-label apps for banks to provide seamless customer experiences.

• Payment Services: Implementing UPI/QR services and soundbox solutions to facilitate digital transactions.

Key Technologies Utilized

• Cloud Computing: Ensuring scalable and secure banking operations.

• Artificial Intelligence and Machine Learning: Analyzing customer data to offer personalized financial product recommendations.

Primary Markets Targeted

• Cooperative Banks and Credit Societies: Focusing on institutions in urban and rural areas seeking digital transformation.

• Merchants and MSMEs: Providing digital payment solutions to small and medium-sized enterprises.

Financials and Funding

Funding History

• Seed Round (April 2021): Raised $244,000 from angel investors and funds.

• Pre-Series A Round (July 2023): Secured $2 million from investors including growX ventures, Stride Ventures, 9Unicorns, Venture Catalyst, and Sunil Kulkarni.

Utilization of Capital

• Expansion: Digitizing over 1,000 cooperative banks and credit societies within the year.

• Team Growth: Increasing workforce to support development and deployment efforts.

• Infrastructure: Establishing offices across India to enhance operational capabilities.

Pipeline Development

Key Products and Services

• OneCBS (Core Banking Solution): A cloud-based platform with integrated mobile applications and switch connectivities, enabling banks to streamline operations and make data-driven decisions.

• SoundBox: A branded merchant ecosystem solution allowing cooperative banks to offer seamless digital payment services to their merchants.

Development Stages and Timelines

• OneCBS: Launched and being deployed across partner banks.

• SoundBox: Introduced to enhance digital payment capabilities for merchants associated with cooperative banks.

Technological Platform and Innovation

Proprietary Technologies

• OneCBS: A cloud-based core banking solution integrating mobile applications and switch connectivities.

• White-Label Mobile Applications: Customizable apps for banks to offer personalized digital banking experiences.

Significant Scientific Methods

• AI/ML Algorithms: Utilized to analyze customer data and provide tailored financial product recommendations.

Leadership Team

Key Executives

• Amit Kapoor: Founder and Chief Executive Officer.

• Background: Former CEO of digital payments firm Airpay.

• Contributions: Spearheading OneStack's mission to digitize cooperative banks and enhance financial inclusion.

• Vishal Gupta: Co-Founder.

• Background: Joined OneStack in 2023; has known Amit Kapoor since their business studies at INSEAD.

• Contributions: Bringing strategic insights to drive the company's growth and innovation.

Competitor Profile

Market Insights and Dynamics

• Market Size: India's fintech market is projected to reach $2.1 trillion by 2030, growing at a CAGR of 18% between 2022-2030.

• Industry Trends: Increasing demand for digital banking solutions, especially in cooperative banking sectors aiming for modernization.

Competitor Analysis

• Setu: Provides APIs for financial services, enabling businesses to offer digital financial products.

• Zeta: Offers a full-stack, cloud-native API-first neo-banking platform.

• Akudo: Focuses on providing financial services to teenagers, offering prepaid cards and financial literacy tools.

Strategic Collaborations and Partnerships

Significant Collaborations

• Venture Catalysts++: Provided early-stage investment and support, facilitating connections within the fintech ecosystem.

• GrowX Ventures and Stride Ventures: Led funding rounds, supporting OneStack's expansion and innovation initiatives.

Operational Insights

Strategic Considerations

• Market Position: OneStack positions itself as a pioneer in digitizing cooperative banks, offering tailored solutions to meet their unique needs.

• Competitive Advantages:

• Tailored Solutions: Specializes in cooperative banking, understanding sector-specific challenges.

• Rapid Deployment: Integration of services into existing systems within approximately two weeks.

• Comprehensive Support: Offers technical support and training to ensure smooth transitions.

Strategic Opportunities and Future Directions

Strategic Roadmap

• Expansion: Aiming to digitize over 1,000 cooperative banks and credit societies within the year.

• Product Development: Enhancing existing solutions and introducing new services to meet evolving market demands.

Opportunities for Expansion

• Geographical Reach: Extending services to underserved regions to promote financial inclusion.

• Service Diversification: Developing additional financial products to cater to a broader customer base.

Positioning for Future Objectives

• Innovation: Continuing to invest in technology to stay ahead in the fintech sector.

• Partnerships: Building strategic alliances to enhance service offerings and market reach.

Contact Information

• Website: www.onestack.in

• LinkedIn: OneStack LinkedIn Profile

• Twitter: @OneStack

• Facebook: OneStack Facebook Page