Onpoint, a consumer rewards platform has raised $600,000 in a pre-seed funding round co-led by First Cheque, an entity under the umbrella of IndiaQuotient, and Whiteboard Capital.
The round also saw participation from several prominent angel investors, including former Directors from Meta and Google, as well as alumni from the Kellogg School of Management.
The fresh capital will be used to accelerate product development, expand Onpoint’s merchant network, and grow its user base across India.
Founded in 2025 by former Meta colleagues Nakul Khanna and Anurag Gupta, Onpoint is redefining how rewards work for everyday consumers. While digital payments and commerce in India have grown rapidly, rewards remain skewed towards premium credit card holders and fragmented across payment methods, loyalty programs, and merchant ecosystems. In addition, brands continue to face rising customer acquisition costs and reliance on marketplaces.
Onpoint bridges this gap by creating a payment-agnostic rewards platform. Consumers earn additional rewards, called Onpoints, whenever they purchase gift vouchers or shop with partner brands through the Onpoint app, website, or browser extension, regardless of how they choose to pay. These rewards stack on top of existing credit card points and loyalty benefits, allowing consumers to maximize rewards without changing their payment behavior and this in turn drives sales for brands directly to their owned channels.
Users can redeem Onpoints across travel and loyalty programs including Air India’s Maharaja Club, Flipkart SuperCoins, and IndiGo BluChip. Alternatively, users can also redeem Onpoints for gift cards of more than 300 brands, including Amazon Pay, Flipkart, Myntra, Uber, etc. valuing Onpoints at 1 Onpoint = 1 INR or higher.
“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 future of rewards isn’t just about tracking points, it’s about making better spending decisions. Every purchase has multiple ways to create value, but consumers are expected to figure it out themselves across disconnected apps and loyalty programs. Our vision is to build the intelligence layer that helps people maximize the value of every rupee they spend,” said Anurag Gupta, Co-founder & CTO of Onpoint.
The founding team brings experience across Meta, Google, Uber, and Zeta, combining expertise in consumer technology, payments, and large-scale platform engineering.
“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.
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