Global escrow banking solution provider Castler has raised $1 million from Zerodha’s venture capital arm Rainmatter, with participation from Venture Catalysts, 9Unicorns, Faad Network, and LetsVenture.
Castler will use the funds further to expand its domestic & cross-border escrow product portfolio and is expected to go live with 10 more banks.
According to the company statement, the startup also plans to grow its business by 10x over the next year.
Founded by Vineet Singh, Dinesh Kumar, and Ritesh Tiwari in January 2021, the Delhi-based startup offers domestic and cross-border escrow solutions, and escrow management solutions for enterprises and banks.
In July 2021, the startup launched the country’s first white-label digital escrow solution – Castler SmartEscro – to make financial transactions safe and secure.
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