Indian Economy News

OneCard is India's 104th unicorn, raises $100 mn in Series D led by Temasek

  • IBEF
  • July 15, 2022

OneCard, a mobile-first credit card company, became India's 104th unicorn after raising US$ 100 million in a series D investment sponsored by Temasek. So far in 2022, India has created over 20 financial unicorns, including OneCard, Open, Oxyzo, and Yubi (formerly CredAvenue).

The current round of funding for OneCard, which is owned by Pune-based FPL Technologies, included participation from existing investors such as QED, Sequoia Capital, and Hummigbird Ventures. FPL Technologies received US$ 75 million in its Series C round earlier this year. Existing investors QED Investors, Janchor Partners, Sequoia Capital India, Matrix Partners, and others contributed to the round.

According to the ASK Private Wealth Hurun India Future Unicorn Index 2022, 122 new unicorns will emerge in India during the next two to four years.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.