OneFin is a financial API platform designed to enable financial inclusion by providing a plug-and-play suite of APIs for banks, non-bank lenders, and fintechs. The company empowers financial institutions in India to digitize, launch, and manage diverse lending products—ranging from education and EV loans to invoice discounting and personal credit—at scale.
The Technology That Enabled OneFin
OneFin's core offering is its modular API infrastructure, which allows financial service providers to integrate and automate complex lending workflows. By abstracting the regulatory, operational, and technical complexities of credit products, OneFin helps partners accelerate time-to-market and reduce costs. The platform has facilitated the disbursement or migration of over $600 million across more than one million loans, demonstrating robust performance and scalability in production environments.
Their APIs are built to support a broad variety of credit products, including:
- Education loans
- EV financing
- Business loans
- Credit lines
- Two-wheeler financing
- Personal loans
- Invoice discounting
OneFin's technology is influenced by broader fintech trends such as the rise of open banking, demand for embedded finance, and the need for regulatory-compliant digital lending infrastructure in emerging markets.
Who Uses OneFin?
OneFin primarily serves leading NBFCs (Non-Banking Financial Companies), Small Finance Banks (SFBs), and fintech companies throughout India and South Asia. Their solutions are tailored for organizations seeking to streamline loan origination, disbursement, and management without investing heavily in custom development. Backed by investors like Y Combinator and Khosla Ventures, OneFin caters to both established lenders and modern digital-first financial service providers aiming to scale efficiently while maintaining compliance.
OneFin's Competitors and Industry Landscape
OneFin operates within the fintech and credit/lending technology space, specifically focusing on financial API platforms for banks and lenders. Key competitors and related platforms include:
- Plaid: Specializes in financial data APIs, primarily for account aggregation and open banking.
- Stripe: Offers a suite of financial APIs, with strengths in payments and embedded finance.
- Tyk.io: Provides enterprise-grade API management for fintech and banking, focusing on security and compliance.
- Trovata: Delivers APIs for cash flow analysis and treasury management.
- Yodlee: Powers open banking and data aggregation APIs for financial institutions and fintechs.
- Kong Inc.: API management platform tailored for the financial industry.
- PayPal: Global payments API provider with significant reach in international transactions.
- Galileo Financial Technology: Core banking, card issuing, and payment processing APIs.
- Basiq: Leading open banking API platform, especially in the APAC region.
- Open Bank Project: Provides standardized APIs and tools for open banking initiatives.
- Ozone API: Open finance APIs for banks and financial institutions, with a focus on regulatory compliance.
While global players like Plaid and Stripe are well-known for financial APIs, OneFin distinguishes itself by focusing on the complex, fast-growing Indian lending market and addressing the local regulatory and operational requirements of NBFCs, SFBs, and fintechs.
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