Castler raised $1 million in a seed round led by Zerodha
Castler, a leading supplier of escrow banking solutions, has raised $1 million in a seed round led by Zerodha’s venture capital arm Rainmatter, with involvement from Venture Catalysts, 9Unicorns, Faad Network, and LetsVenture.
Castler intends to use the funds to expand its internal and cross-border escrow brand portfolio, go live with ten more banks, and do more than tenfold its business the following year.
“Three pillars of building a banking/fintech business are Trust, Security, and Technology. Our simplified, technology-fuelled platform and high-caliber experienced team have allowed us to think and plan like a large organization but execute like a start-up, which is imperative for the space we operate in. With this funding round, we look forward to continued growth at breakneck speed,”Vineet Singh, Founder, Castler
Founded by Vineet Singh, Dinesh Kumar, and Ritesh Tiwari in January 2021, the Delhi-based startup, Castler creates a unique escrow management system for businesses and banking institutions, serving over 150 businesses and managing over Rs 1,000 crore in transactions per month.