Consumer rewards startup Onpoint 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 attracted participation from several angel investors, including former Directors from Meta and Google, as well as alumni of the Kellogg School of Management.
The company said it will use the fresh capital to accelerate product development, expand its merchant network, and grow its user base across India.
Founded in 2025 by former Meta colleagues Nakul Khanna and Anurag Gupta, Onpoint is building a payment-agnostic rewards platform designed to help consumers maximize rewards on their everyday spending.
While digital payments and online commerce have grown rapidly in India, the startup believes that rewards remain largely limited to premium credit card users and are often fragmented across different payment methods, merchant ecosystems, and loyalty programs. At the same time, brands continue to face rising customer acquisition costs and increasing dependence on online marketplaces.
Onpoint aims to solve these challenges by allowing users to earn additional rewards, known as Onpoints, whenever they purchase gift vouchers or shop with partner brands through the company’s mobile app, website, or browser extension. These rewards are earned regardless of the payment method used and can be combined with existing credit card reward points and loyalty benefits.
Users can redeem their Onpoints across popular travel and loyalty programmes, including Air India’s Maharaja Club, Flipkart SuperCoins, and IndiGo BluChip. They can also exchange their rewards for gift cards from more than 300 brands, including Amazon Pay, Flipkart, Myntra, and Uber, where 1 Onpoint is valued at ₹1 or more.
Speaking about the company’s vision, Nakul Khanna, Co-founder and CEO of Onpoint, said meaningful rewards should not be restricted to a small section of consumers. Drawing from his own experience of using over 30 credit cards across the US and India, he said the platform aims to make reward optimization accessible to everyone while also helping brands acquire and retain customers more efficiently.
Anurag Gupta, Co-founder and CTO, said the future of rewards lies in helping consumers make smarter spending decisions. He added that Onpoint aims to become the intelligence layer that enables users to maximize the value of every rupee they spend.
The founding team brings experience from companies including Meta, Google, Uber, and Zeta, with expertise spanning consumer technology, payments, and platform engineering.
Commenting on the investment, Sahil Makkar, Partner at IndiaQuotient, said India’s growing base of digitally active consumers is increasingly seeking better loyalty benefits. He noted that platforms such as Rakuten have already demonstrated the global potential of this business model, creating an opportunity for a similar leader in India.
Anshu Prasher, General Partner at Whiteboard Capital, said Onpoint addresses a major gap in India’s loyalty ecosystem and expressed confidence in the founding team’s vision from the early stages.
With the latest funding, Onpoint plans to strengthen its technology platform, onboard more merchants, and expand its rewards ecosystem as it looks to make loyalty rewards more accessible for everyday consumers.
– By Shivani Solanki
