Consumer rewards platform Onpoint has raised $600,000 in its pre-seed funding round. The fresh capital will be used to enhance the company’s core product infrastructure, expand its merchant network, and accelerate user acquisition across India.

1. The Funding Breakdown

The investment round marks the platform’s first major capital raise to back its growth roadmap:

  • Co-Led By: First Cheque (an entity operating under the IndiaQuotient umbrella) and Whiteboard Capital.
  • Angel Participation: High-profile angel investors backed the round, including former directors from tech giants like Meta and Google, alongside alumni from the Kellogg School of Management.

2. Core Offering: A Payment-Agnostic Ecosystem

Founded in 2025 by former Meta employees Nakul Khanna and Anurag Gupta, Onpoint’s leadership team brings combined engineering and consumer tech experience from firms like Meta, Google, Uber, and Zeta.

The platform differentiates itself through a highly flexible, open rewards architecture:

Plaintext

[ THE ONPOINT PAYMENT-AGNOSTIC MODEL ]

  User Purchases Gift Vouchers / Shops with Partner Brands (App, Web, Extension)
                                      │
                                      ▼
             Earns "Onpoints" Irrespective of Payment Method Used
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  Can Stack with Existing Credit Card Rewards & Loyalty Benefits
  • Earning Rewards: Users can stack up points (known as “Onpoints”) whenever they purchase gift vouchers or shop with partner merchants through the Onpoint app, website, or browser extension. These points are accumulated regardless of whether the user pays via UPI, credit cards, or debit cards.
  • Redemption Framework: Accumulated points can be transferred and converted directly into established domestic travel and loyalty ecosystems, including Air India’s Maharaja Club, IndiGo BluChip, and Flipkart SuperCoins.
  • Brand Network: Alternatively, users can redeem their balances for digital gift cards across a catalog of more than 300 major brands, including Amazon Pay, Flipkart, Myntra, and Uber.

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