Onpoint, a consumer rewards platform helping Indians maximize the value of everyday purchases, today announced it 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 startup will use the raised 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 a payment-agnostic rewards platform that enables consumers to earn additional rewards, called Onpoints, when they purchase gift vouchers or shop with partner brands through the Onpoint app, website, or browser extension.

Consumers can earn Onpoints regardless of their chosen payment method, allowing these rewards to be earned in addition to existing credit card points and loyalty benefits.

For brands, the startup provides a channel to engage consumers and drive sales through their owned platforms. Users can redeem Onpoints across travel and loyalty programs, including Air India’s Maharaja Club, Flipkart SuperCoins, and IndiGo BluChip.

"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.