Onpoint Raises $600K Pre-Seed Funding Led by First Cheque and Whiteboard Capital
The startup will use the fresh capital to strengthen its product, expand merchant partnerships, grow its engineering and business teams, and accelerate customer acquisition across India.
Consumer rewards startup Onpoint has raised $600,000 in a pre-seed funding round co-led by First Cheque, the early-stage investment initiative of India Quotient, and Whiteboard Capital.
The round also saw participation from a group of angel investors, including former leaders from Meta and Google, as well as alumni of the Kellogg School of Management.
Founded in 2025 by former Meta executives Nakul Khanna and Anurag Gupta, Onpoint is building a payment-agnostic rewards platform that enables consumers to earn rewards on their everyday spending, irrespective of the payment method they choose.
Unlike traditional loyalty programmes that are typically linked to a specific credit card or merchant, Onpoint allows users to earn its proprietary rewards currency, Onpoints, by purchasing gift vouchers or shopping through its mobile app, website, or browser extension. These rewards can be stacked with existing credit card offers, merchant discounts, and loyalty programmes, enabling users to maximise savings without changing their spending habits.
Users can redeem their accumulated Onpoints across a wide range of travel and shopping partners. The platform currently supports transfers to programmes including Air India Maharaja Club, IndiGo BluChip, and Flipkart SuperCoins, while also allowing redemption through gift cards from more than 300 brands, including Amazon Pay, Flipkart, Myntra, Uber, and several other leading merchants.
According to the company, Onpoint aims to simplify India’s fragmented rewards ecosystem by creating a unified platform where consumers can discover offers, earn rewards across multiple brands, and redeem them more flexibly.
The founding team brings experience from companies including Meta, Google, Uber, and Zeta, with expertise spanning consumer technology, fintech, payments, product development, and platform engineering.