OneCard raises Rs 72 Cr in Series D led by Peak XV at $1.27B valuation
Mobile-first credit card fintech OneCard is raising Rs 72 crore ($7.6M) in an ongoing Series D round led by Peak XV (Rs 30 Cr) with Z47 (Rs 9.5 Cr) participating, valuing it near $1.27 billion. The raise comes amid an RBI-linked pause on new co-branded card onboarding via partner banks. FY25 revenue hit Rs 1,878 Cr against a loss of Rs 297.5 Cr.
What happened
Mobile-first credit card fintech OneCard is raising Rs 72 crore in Series D led by Peak XV, valuing it near $1.27 billion, amid RBI-linked pause on new
Key facts
- Rs 72 crore raise
- $7.6 million
- Rs 30 Cr Peak XV
- Rs 9.5 Cr Z47
- valuation Rs 12,050 crore (~$1.27 billion)
- FY25 revenue Rs 1,878 crore
- FY25 loss Rs 297.5 crore
Why this matters
The modest Rs 72 Cr Series D top-up led by existing backers Peak XV and Z47 amid a regulatory overhang suggests a bridge-style raise, opening the door for partnership or consolidation talks if the co-branded pause persists.
What to watch
- RBI clarity or lifting of co-branded card onboarding pause
- Full Series D round size and final valuation confirmation
- FY26 revenue growth vs loss trajectory disclosures
- New bank partnership announcements or exits
- Any layoffs or cost-cutting signals
- OneCard accelerates in-house credit/lending and OneScore monetization to offset frozen co-branded card acquisition
- Management guides toward narrowing losses and a path to profitability to justify unicorn mark
- Seek additional Series D tranches from existing backers rather than new lead investors
- Engage RBI/partner banks to restore onboarding compliance and resume card issuance
Also reported by
- Entrackr — Same time