Rewards platform Onpoint raises $600K pre-seed to expand loyalty network
Consumer rewards startup Onpoint raised $600K in a pre-seed round co-led by First Cheque and Whiteboard Capital, with IndiaQuotient participating. The payment-agnostic app lets Indian users earn redeemable points across 300+ brands, gift cards, and loyalty programs, and plans to expand its merchant network and user base.
What happened
Consumer rewards platform Onpoint raised $600K pre-seed co-led by First Cheque and Whiteboard Capital. The payment-agnostic app lets Indian users earn
Key facts
- $600K pre-seed
- founded 2025
- 300+ brands
Why this matters
As a 2025-founded, payment-agnostic loyalty layer, Onpoint is an early-stage watchlist target for banks, fintechs, or retail groups seeking a bolt-on rewards network rather than an immediate acquisition.
What to watch
- Merchant count crossing 500+ within 6-9 months
- Monthly active user and 30-day retention disclosures
- Competitive moves from CRED, magicpin, or bank loyalty programs
- Bridge or Series A raise timing and size
- Redemption economics / points-liability accounting signals
- Sign anchor merchant categories (fuel, grocery, QSR) to deepen redemption utility
- Launch referral and gamified earning loops to accelerate user base
- Publish early GMV / active-user metrics to court Series A investors
- Explore API/white-label deals with banks or fintechs for distribution leverage