Onpoint Raises $600K in Pre-Seed Round co-led by First Cheque

The funding round was co-led by First Cheque, part of the IndiaQuotient group, and Whiteboard Capital.

The round also included investments from several angel investors, including former executives from Meta and Google, as well as alumni of the Kellogg School of Management.

"The rewards ecosystem in India and elsewhere has always been tilted toward a subset of consumers, those who gain access primarily by virtue of income. Having used over 30 credit cards across the US and India, I experienced this firsthand, redeeming more than 1 million points for 50+ award flights and hotel stays at little to no cost. We built Onpoint because meaningful rewards shouldn't be limited to a subset of the population, while providing brands a more sustainable and cost-effective way to drive new and repeat sales," said Nakul Khanna, Co-founder & CEO of Onpoint.

"The rapid expansion of digital consumer spending in India has given rise to a hyper-engaged cohort of power users, a segment we internally refer to as 'Points Paglus', who expect outsized rewards for their loyalty. Onpoint is creating a highly fungible rewards layer tailored for this demand, simultaneously solving the critical challenges of high customer acquisition and retention costs for brands. Globally, platforms like Rakuten have proven the massive potential of this model, and we see a clear need for a dominant player in the Indian ecosystem," said Sahil Makkar, Partner at IndiaQuotient.

"Onpoint's approach addresses a structural gap in how loyalty works in India, and we're excited to back Nakul, Anurag, and the team from day one," said Anshu Prasher, General Partner at Whiteboard Capital.

Founded in 2025 by Nakul Khanna and Anurag Gupta, Onpoint helps users earn rewards on their everyday shopping across different brands and stores. The company will use the new funding to improve its platform, add more merchant partners, and grow its user base in India.

Users can earn reward points, called Onpoints, by buying gift vouchers or shopping with partner brands through the Onpoint app, website, or browser extension. These rewards can be earned with any payment method and can also be combined with existing credit card rewards and loyalty programmes.

Users can redeem their Onpoints for travel and loyalty programmes such as Air India's Maharaja Club, IndiGo BluChip, and Flipkart SuperCoins. They can also exchange their points for gift cards from more than 300 brands, including Amazon Pay, Flipkart, Myntra, and Uber.

The founders of Onpoint have previously worked at companies such as Meta, Google, Uber, and Zeta, bringing strong experience in consumer technology, payments, and platform engineering.

Read Also- Wildfire Energy Raises US$1.3 Mn in Round from Climate Tech Partners