OneCard Secures $28.5 Million Funding, Valued at $1.4 Billion

Pune-based credit card startup OneCard is raising ₹239.4 crore ($28.5 million) from Better Tomorrow Ventures, Peak XV, and Z47.

Regulatory filings reveal ₹71.4 crore has been received so far, with the remaining ₹168 crore arriving in tranches. OneCard, now valued at ₹11,747 crore ($1.4 billion), offers co-branded credit cards and credit management services. The company reported a six-fold revenue surge to ₹593 crore in FY23 but also saw losses rise to ₹405.6 crore. Its investors, Peak XV and Z47, hold a 40% stake collectively.

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