Castler, a startup offering Digital Identifier and Escrow services, has achieved extraordinary growth, recording a 6500% increase in gross transaction value (GTV), rising from Rs. 15 crores in July 2021 to Rs. 1000 crore in July 2022. The startup also experienced a 384% growth in the customer base (from 31 to 150) and a 3200% rise in accounts opened (from 50 to 1650) within one year.

Castler specializes in providing escrow services tailored to internet-based businesses, such as real estate transactions, gaming, freelancing, mergers and acquisitions, and Prepaid Payment Instrument license holders. With services like eKYC, eAgreement signing, digital account opening, and real-time transaction notifications, Castler caters to both B2C and B2B segments.

The startup’s targeted problem-solving approach, emphasis on secure services, and robust investor backing (including YES Bank and Rainmatter, Zerodha's venture arm) have positioned it as a leading player in the escrow banking market. Global escrow deposits are valued at $100 billion and are projected to reach $260 billion by 2030, presenting significant growth opportunities for Castler.

“Vineet Singh, Founder & CEO, Castler, explained how Castler shifted its focus from secure transaction solutions to escrow banking, capitalizing on the increasing demand in the digital economy.”