Empowering OneCard’s Fintech Odyssey: A Strategic Boost with INR 95 Crore Debt Infusion
Introduction:
In a significant financial move, Fintech unicorn OneCard has successfully secured a substantial debt capital infusion of INR 95 Crore (approximately $11.44 Million) from the renowned venture debt fund, Alteria Capital. The latest development comes as the board at OneCard passed a special resolution, paving the way for the issuance of 9,500 non-convertible debentures (Series B Debentures) with a face value of INR 1,00,000 each, according to regulatory filings.
Details of the Funding: The decision to raise INR 95 Crore through the issuance of Series B Debentures highlights the company‘s strategic approach to bolster its financial standing and further fuel its growth initiatives. The infusion of capital from Alteria Capital signifies a strong vote of confidence in OneCard’s business model and its potential for continued success in the fintech sector.
Significance of the Investment: The funding from Alteria Capital is expected to play a pivotal role in OneCard’s ongoing efforts to enhance its offerings and expand its market presence. Fintech companies, often characterized by their agility and innovation, leverage such investments to introduce new features, improve existing services, and scale operations.
OneCard’s Continued Unicorn Journey: Having attained the coveted status of a unicorn – a startup valued at over $1 billion – OneCard has been making waves in the fintech landscape. This recent debt capital injection further solidifies the company’s position, providing it with the financial muscle to navigate the competitive fintech market and capitalize on emerging opportunities.
Company Perspective: Commenting on the funding round, [CEO/Founder Name], [Position] at OneCard, expressed enthusiasm about the partnership with Alteria Capital. [He/She] highlighted how the funds would be utilized to drive innovation, improve customer experiences, and propel the company toward its strategic goals.
Conclusion:
The INR 95 Crore debt capital infusion from Alteria Capital marks a significant milestone in OneCard’s journey, showcasing the continued investor confidence in the fintech unicorn. As OneCard continues to chart its path in the dynamic fintech ecosystem, this strategic funding is poised to play a key role in shaping the company’s future and contributing to its long-term success.