Castler closes Pre-Series A funding of $6 Million led by Flipkart, Capital 2B, IIFL Fintech Fund, Venture Catalysts & Zerodha

5 emerging leaders in the fintech and lending space in India

Castler is an innovative company that is leading the way in the Digital Identifier industry in India. Vineet Singh and Dinesh Kumar, both experienced entrepreneurs, founded the company in 2021 with the aim of developing a transaction banking-focused escrow banking solution for both domestic and cross-border transactions. They also hope to make the escrow product more accessible to the general public and MSMEs to combat fraud.
Castler employs cutting-edge technology, expertise, and innovation to digitize the escrow process, making it more convenient and accessible to both businesses and consumers. The platform offers multi-party protection and several levels of authentication to protect businesses. According to industry estimates, around 1 lakh companies in India use escrow accounts. The global escrow deposits are worth USD 100Bn, and the market is projected to increase to USD 260Bn by 2030.
Currently, Castler is the go-to escrow solution for over 150 enterprises, processing over Rs 1000+ crores in transactions every month. The company’s Digital Identifier Banking Suite is a proprietary system that provides its clients with an “Open, Own & Operate” escrow solution that ensures trust and transparency in every transaction.
Castler’s growth has been remarkable, with the startup recording over 6500% growth in GTV in just one year. The company is poised to revolutionize the escrow industry in India, with its unique approach to Digital Identifier solutions.