Escrow Banking Startup Castler Raises $5 Mn To Solve Complex Transaction Flows

Escrow Banking Startup Castler Raises $5 Mn To Solve Complex Transaction Flows

SUMMARY

Prior to this, the startup raised $1.5 Mn from Zerodha, Venture Catalysts, 9Unicorns, FAAD Network, Lets Venture, and AngelList

Founded in 2021 by Dinesh Kumar, Vineet Kumar Singh and Vineet Singh, Castler has been serving as middle-ware between banks and enterprises

The founders aim to operate the startup on the pillars of good governance and responsible execution

Escrow banking platform Castler has raised $5 Mn in a Pre-Series A round led by Capital 2B (an Info Edge fund) and IIFL Fintech Fund. Other investors including Stride Ventures & Piper Serica also participated in the round along with returning investors Zerodha, Venture Catalysts, 9Unicorns, and FAAD Network.  

Castle has stated that the funds will be used to expand both domestic and global businesses by increasing the escrow product portfolio. It also aims to expand its banking partnerships to 25 banks and grow its business 10x over the next couple of years.  

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