Kul Bhushan · · 1 min readTemasek leads $100m round of Indian fintech firm
OneCard, an India-based fintech startup, has raised US$100 million in a series D round led by Singapore’s Temasek Holdings, Entrackr reported. This puts the startup in the unicorn club with a valuation of US$1.3 billion.
FPL Technologies founders (from left) Vibhav Hathi, Anurag Sinha, and Rupesh Kumar / Photo credit: FPL Technologies
Ocean View, QED Holdings, Sequoia Capital, and Matrix Partners also participated in the round.
OneCard’s parent firm, FPL Technologies, was founded in February 2019 by former ICICI Bank executives Anurag Sinha, Rupesh Kumar, and Vibhav Hathi.
Launched in June 2020 in partnership with several domestic banks, OneCard is a mobile-first metal credit card. Its parent firm also operates a credit score tracking and credit management platform, OneScore, which reportedly has nearly 70 million users.
In January, FPL Technologies raised US$75 million in a series C funding round from Janchor Partners, Sequoia Capital India, Matrix Partners, and Hummingbird Ventures, among others. The round had valued the firm at US$750 million.
See also: A list of India’s unicorns and their early investors (Updated)
Editing by Samreen Ahmad and Lorenzo Kyle Subido
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