OmniCard Raises $3 Million in Pre-Series A Funding

OmniCard, a business spend management startup, has secured $3 million in a Pre-Series A funding round led by Ankurit Capital and Taiwan-based Taisys, according to a company release.

Launched in 2021, OmniCard offers a SaaS platform, mobile app, and UPI-enabled corporate cards to meet the diverse needs of businesses. With over 2 million users, OmniCard is licensed by the RBI for Prepaid Payment Instruments (PPI), ensuring direct customer ownership and a trusted setup. 

OmniCard serves clients such as CarDekho, Policy Bazaar, Kama Ayurveda, Senco Gold, and food and beverage giants like Haldiram’s, Taco Bell, and Lite Bite Foods. They also work with government entities like SIDBI, NSE, Protean, and NABARD.

“Our goal is to deliver immediate, measurable cost savings to over 10,000 enterprises by FY 2027, leveraging market trends to drive the next payments revolution,” said Abhishek Saxena, MD & Co-founder of OmniCard.

Ankurit Capital is investing from its 200-crore maiden fund, led by women general partners Ankhi Das and Ntasha. Their fund is sponsored by Venture Gurukool, an early-stage investor and mentoring platform founded by Mahendra Swarup, former President of the Indian Private Equity & Venture Capital Association (IVCA).

Ntasha, General Partner at Ankurit, said they have a unique investment approach and identify opportunities in India’s Digital Public Infrastructure ecosystem.

For Taisys, a Taiwanese technology company, OmniCard is its first investment in an Indian startup. The Family Office of VLS Finance Group also participated in this funding round along with Ankurit Capital and Taisys, the release stated.