Onpoint Raises $600,000 in Pre-Seed Funding
Onpoint, a platform that offers rewards on every purchase, has successfully raised $600,000 in a pre-seed funding round. This round was co-led by First Cheque and Whiteboard Capital, bringing in support from a number of influential angel investors, including former directors from Meta and Google, as well as alumni from the Kellogg School of Management.
Company Background
Founded in 2025 by Anurag Gupta and Nakul Khanna, former colleagues at Meta, Onpoint is designed to maximize the value of everyday purchases for Indian consumers. By using the Onpoint app, website, or browser extension, users can earn additional rewards, termed as 'Onpoints', when purchasing gift vouchers or shopping with partner brands. This system is payment-agnostic, allowing users to accumulate Onpoints on top of existing credit card points and loyalty benefits. The platform also provides brands with a new channel to engage consumers and drive sales.
Founders and Leadership
Anurag Gupta and Nakul Khanna, both Co-Founders and Chief FREEquent Flyers, lead the company. Khanna, who also serves as CEO, has noted the importance of democratizing the rewards ecosystem, highlighting how traditional rewards have often favored higher-income consumers. "Having used over 30 credit cards across the US and India, I experienced this firsthand," Khanna said, referencing his personal journey in maximizing reward points.
Strategic Use of Funds
The newly acquired funds will be directed towards accelerating product development, expanding the merchant network, and significantly increasing the user base across India. This strategic growth plan aims to enhance the platform's reach and functionality, making it a more attractive option for both consumers and partner brands.
Future Directions
Onpoint's funding marks a significant step in its mission to broaden access to consumer rewards in India. With plans to leverage the capital for product and network expansion, the platform is set to provide a more inclusive rewards experience, allowing users to redeem Onpoints across various travel and loyalty programs, including Air India's Maharaja Club and Flipkart SuperCoins.
As the rewards landscape continues to evolve, Onpoint is positioning itself to be a key player in the market, offering a comprehensive solution for consumers looking to maximize their purchasing power.