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OneCard secures Rs 95 Cr in debt funding from Alteria Capital
source link: https://nextbigwhat.com/onecard-secures-rs-95-cr-in-debt-funding-from-alteria-capital/
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OneCard secures Rs 95 Cr in debt funding from Alteria Capital
- Mobile-first credit card startup OneCard has raised Rs 95 crore ($11.44 million) in debt from Alteria Capital, marking its second round of debt funding in recent months.
- The funds will be used for business operations and were raised through the issue of 9,500 Series B debentures, with a tenure of 30 months and an interest rate of 13.85% per annum.
- OneCard, which turned unicorn in 2022, offers co-branded credit cards in partnership with various banks and competes with firms like Slice and Uni.
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