FPL Technologies

FPL Technologies is a fintech startup that offers credit cards to customers under the brand name OneCard and credit score-checking product called OneScore.

FPL breaks through the clutter with a simplified and streamlined approach to rebuild the credit and payments platform with a unique model that leverages tech and over-weighs on data security.

FPL Tech was founded in Sep 2018 by Anurag Kumar, Rupesh Kumar, and Vibhav Hathi. The company is based in Pune, Maharashtra, India.

 

FPL's OneCard operates a mobile-first credit card. Its cards, for which the startup partners with banks, come without any joining or annual fee and give customers more control and flexibility over how and where they transact. It also offers a range of personalised rewards and loans to customers.

 

FPL also operates an app called OneScore, which helps users understand and learn their credit score. The app is one of the largest customer acquisition drivers for OneCard.

 

FPL's OneCard currently offers services in 12 cities across India including Mumbai, Bengaluru, Delhi, and NCR. In early 2022, OnceCard had amassed over 250,000 customers who were spending about $60 million with its cards each month.

 

FPL is backed by Temasek, QED, Matrix Partners India, Sequoia Capital India, Ocean View Investments, Hummingbird Ventures, Janchor Partners, and others. The company raised $100M in Series D round on Jul 13, 2022. This brings FPL's total funding to $225.6M to date. The latest round mints FPL a unicorn with a valuation of over $1.4B post-money, up from a $750M in Series C round raised in Jan 2022. 

 

 

  • Year founded: 2018
  • Funding Info: $225.6M over 5 Rounds (Latest Funding Type: Series D)
  • Yearly Revenue: NA
  • Employee Size: 201-500
  • Business Valuation: Valued at over $1.4B as of Jul 13, 2022
  • City/Town: Pune
  • State: Maharashtra
  • Country: India
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