Onecode has raised $13 million in its Series A funding round led by venture capital firm, General Catalyst. Returning investors Sequoia Capital India’s Surge, Nexus Venture Partners, and Waterbridge Ventures also participated in the round.
The funding will be invested to hire talent across functions and accelerate product and technology development. The company will also expand its presence to an additional 100 cities and will invest in growing its agent network.
OneCode uses its network of agents to recommend financial products to its users in Tier-II, III and IV cities. The startup works on a commission-based distribution model, recommending products across more than 10 categories including credit cards, loans, pocket insurance, etc.