OneCard to raise debt from Alteria

Mobile-first credit card startup OneCard is raising Rs 40 crore (approximately $4.5 million) in debt funding from existing investor Alteria Capital.

This debt funding follows the company’s $28.5 million round raised last December from QED Investors, Better Tomorrow Ventures, Peak XV and Z47 which valued the company at $1.4 billion post-money, as exclusively reported by Entrackr.

The board at OneCard has passed a special resolution to approve the issue of 4,000 non-convertible debentures (NCDs) at a face value of Rs 1 lakh each to raise the…