FPL Technologies-possessed OneCard, a fintech startup that offers charge cards, has brought $100 million up in its most recent Series D round, according to its filings with the controller.
The $100 million raise money esteems the startup at more than $1.4 billion, as per TechCrunch, which refered to a source acquainted with the matter, making it the furthest down the line contestant to the unicorn club.
Singapore-based Temasek drove the round, while existing financial backers QED, Sequoia Capital, and Hummingbird Ventures additionally took part in the round.
The raise money comes against the background of the crackdown by the Reserve Bank of India on non-banks expanding credit lines through PPI instruments, for example, advanced wallets or put away worth cards.
OneCard has not been impacted by the national bank mandate since it as of now gives co-marked cards with banks including IDFC First, Federal Bank, SBM Bank, and others.
Established in 2019 by Rupesh Kumar, Anurag Sinha, and Vibhav Hathi, who have spent north of 10 years at ICICI Bank – – FPL Technologies is a fintech firm working in the computerized and actual charge cards, called OneCard, and FICO rating checking item called OneScore.
In December 2021, OneCard raised near $76 million from Delaware-based QED Fund, and Singapore-based Ocean View Investment.
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FPL Technologies’ OneCard as of now offers administrations in 12 urban communities across India including Mumbai, Bengaluru, Delhi, and NCR.
