Pune based fintech startup OneCard became 104th unicorn of India following a new round of funding. Temasek, one of the world’s largest investors, led the Pune-based startup’s Series D round of over $100 million.
The new round values OneCard at more than $1.4 billion (post-money), up from approximately $750 million in January of this year. OneCard had raised $ 35 million in its series B funding last year.
OneCard is a mobile-only credit card company that was established in 2019 by industry veterans. Customers have more power and flexibility over how and where they transact with its cards, for which the firm partners with banks, and there are no joining or yearly fees. Additionally, it provides consumers with a variety of personalised rewards and loans.
What is a unicorn?
A unicorn company is a privately held startup company valued at more than $1 billion in venture capital. It’s a term that became common after venture capitalist Aileen Lee coined it in 2013. A decade later, unicorns in India are not rare anymore. These Indian unicorns have raised over $ 100 billion plus in funding and have a combined valuation of around $ 339 billion. India saw as many as 44 unicorns in 2021. So far in 2022 Indian Unicorn count is about 14.
The Indian e-commerce sector has the highest number of unicorns(22) followed by fintech(20) and Enterprise tech (19).
The top 5 Indian Unicorns of 2022 are as follows:
Fractal is artificial intelligence (AI) and advanced analytics provider startup with headquarters in New York, US, and Mumbai.
LEAD is the first edtech unicorn of 2022. Couple Sumeet Mehta and Smita Deorah founded it.
DarwinBox is a Hyderabad-based HRtech startup. It was founded by Chaitanya Peddi, Jayant Paleti, and Rohit Chennamaneni.
DealShare, a three-year-old startup, uses a community-driven strategy to provide high-quality, low-priced necessities for mass consumers at competitive prices, especially in Tier II and III cities. DealShare was founded in September 2018 by Vineet Rao, Sourjyendu Medda, Sankar Bora, and Rajat Shikhar.
Livspace is an Interior Designing and home renovation services company founded by Anuj Srivastava and Ramakant Sharma in 2015.