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.
The startup stated that it plans to expand its business by ten times over the next 12 months.
Vineet Singh and Dinesh Kumar founded the Delhi-based startup in January 2021. They offer domestic and cross-border solutions to escrow and management for banks and enterprises.
In July 2021, the startup launched the country’s first white-label digital escrow solution – Castler SmartEscro – to make financial transactions safe and secure.