OneCard secures INR 95 crore in debt financing.

Fintech unicorn OneCard has successfully secured INR 95 crore ($11.44 million) in debt capital from the venture debt fund Alteria Capital.

A special resolution has been approved by the OneCard board, authorizing the issuance of 9,500 non-convertible debentures (Series B Debentures) with a face value of INR 1,00,000, aiming to raise INR 95 crore, according to regulatory filings.

The newly acquired funds will be utilized by the company to support its business operations.

Established in 2018, OneCard specializes in providing a co-branded credit card in collaboration with banks. The platform also extends credit card-related services, including credit score checks and an expense management application.