[Funding alert] OneCard Secures Rs 95 Cr Debt Funding from Alteria Capital

Venture financing fund Alteria Capital has provided INR 95 Cr ($11.44 Mn) in debt funding to fintech unicorn OneCard.

According to regulatory filings, the OneCard board has approved a special resolution to issue 9,500 non-convertible debentures (Series B Debentures) with a face value of INR 1,00,000 in order to raise INR 95 Cr, as reported by Inc42.

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OneCard (FPL Technologies) has a system for credit score tracking/credit management software called OneScore, and it provides jointly branded credit to primarily first-time users.

The corporation intends to put the newly acquired capital to use in the operations of the business.

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About OneCard

OneCard, which was founded in 2018 by Anurag Sinha, Rupesh Kumar, and Vibhav Hathi, provides a credit card with a joint brand in collaboration with banks, including Federal Bank and Bank of Baroda Financial. Additionally, the platform provides services relating to credit cards, like an application for managing expenses and a credit report check.

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