Mobile-first credit card startup OneCard has raised Rs 72 crore in its latest funding round. It is being led by Peak XV Partners, Z47, and Hummingbird Ventures, among others. The new investment values the company at around Rs 12,050 crore ($1.27 billion).
Founded in 2019 by Anurag Sinha and Rupesh Kumar, the company offers credit cards in partnership with banks. It also runs the OneScore app, which helps users check their credit scores and manage their finances. However, the RBI had asked it to stop adding new customers in December 2025 as part of its data sharing probe. Discussions are currently underway with the authorities to resume card issuance.
The largest shareholders of OneCard, which achieved unicorn status in 2022, will continue to be Peak XV Partners (22.88%) and Zed47 (17.66%) even after the new investment. The company's financial position has also improved significantly. In the last financial year (FY25), the company's operating income increased by 32 percent to Rs 1,878 crore, while its loss narrowed by 25.8 percent to Rs 297.5 crore.
