OneCard FPL Technologies funding made headlines again on 13 July 2026 as OneCard (FPL Technologies) moved to raise Rs 72 crore in a fresh tranche of its ongoing Series D round, led by Peak XV Partners, as publicly reported on 2026-07-13. The Pune-based fintech, which operates a mobile-first credit card platform, is pulling in capital from a mix of institutional and individual investors in this latest close. The deal has been reported by a single source and could not be independently confirmed at the time of publication.
Quick Highlights
- Founders: Anurag Sinha, Rupesh Kumar, Vibhav Hathi
- Lead Investor: Peak XV Partners (investing Rs 30 crore)
- Participating Investors: Z47 (Rs 9.5 crore), Hummingbird Ventures (Rs 1.9 crore), and angel investors including Shalini Warrier, Kakarla Karunamaye, Sumana Mallick, Ranu Madhivanan, Sathish Krishnan, Pragnyat Lalwani, Gautam Jain, and Gaurang Shah
- Investor Background: Peak XV Partners (formerly Sequoia Capital India) is an existing and largest shareholder; Z47 (formerly Matrix Partners India) is also a continuing backer
- Headquarters: Pune, Maharashtra
- Announcement Date: 13 July 2026
Funding Breakdown
Use of Funds
No specific use-of-funds statement has been publicly disclosed for this particular Rs 72 crore tranche. Based on the company’s previously stated priorities across its ongoing Series D raise, FPL Technologies has indicated a focus on strengthening its technology infrastructure and deepening product development in collaboration with regulated banking partners, as publicly reported in prior tranches of this round.
Funding Timeline
FPL Technologies was founded in 2019 and raised a Series A of $4.5 million in July 2019. The company raised $75 million in a Series C round in early 2022. Later in 2022, it crossed the unicorn threshold after raising over $100 million in a prior Series D close led by Temasek, valuing it at over $1.4 billion. The ongoing Series D round has seen multiple tranches: a close of Rs 239.4 crore from Better Tomorrow Ventures, Peak XV, and Z47 was reported in late 2024, followed by a tranche led by QED Investors that brought in approximately $25.5 million. This latest Rs 72 crore close, led by Peak XV Partners, continues that same ongoing round. As publicly reported, post-allotment Peak XV Partners will remain the largest shareholder with a 22.88% stake, followed by Z47 with a combined 17.66% stake.
Significance
This fresh tranche of OneCard FPL Technologies funding signals sustained institutional confidence in the mobile-first credit card segment even as India’s fintech landscape faces tighter regulatory scrutiny from the Reserve Bank of India. The continued backing from marquee names such as Peak XV Partners, who will hold the largest post-allotment stake, underscores the company’s standing among India’s most-funded fintech unicorns. As publicly reported, OneCard’s revenue from operations grew 32% year-on-year to Rs 1,878 crore in FY25, while losses narrowed by 25.8%, reflecting a company on a credible path toward profitability. For the broader credit card fintech ecosystem, OneCard’s ability to attract capital across multiple Series D tranches demonstrates that co-branded, mobile-first credit models retain strong investor appetite in India’s fast-expanding consumer credit market.
This deal is currently single-source and could not be independently confirmed against multiple publicly available reports as of 2026-07-13.
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Disclaimer: This report is compiled from publicly available sources and is for informational purposes only; funding figures are as publicly reported and may be subject to change.
