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

Castler Ropes In Razorpay’s Former VP Of Business Development As Co-founder And COO

Castler, a Digital Identifier platform, has announced the appointment of Kumar Amit as Co-founder and Chief Operating Officer (COO). Previously serving as the VP of Business Development at Razorpay, Amit brings over 20 years of experience to his new role, where he will oversee Growth, Marketing, Operations, and Compliance at Castler.

During his tenure at Razorpay, Amit led the company in various capacities, representing them at prestigious forums such as the Digital India Mission, Niti Aayog, MieTy, PMO, Delhi School of Economics, and Singapore Fintech Festival.

Vineet Singh, Founder and CEO of Castler, expressed the importance of consolidating the management team with top-tier leaders as the company transitions from its early stages to exponential growth. Singh praised Amit as one of the most skilled operators in the Fintech industry, highlighting his instrumental role in the remarkable growth of Razorpay. Amit’s extensive background in enterprise business and his experience working with regulators and government bodies position him to drive Castler to new heights. His broad expertise in the fintech space will be crucial in Castler’s journey towards rapid expansion while maintaining a commitment to good governance and responsible growth.

Since its inception, Castler has witnessed an extraordinary surge in gross transaction value (GTV), with a staggering 300-fold increase in less than two years. Starting at Rs 15 crore in July 2021, the GTV skyrocketed to Rs 5,000 crores by March 2023. As a two-year-old company, Castler is focused on developing a unique multi-bank architecture and has established collaborations with nine banks. Additionally, they have plans to expand their partnerships to approximately 25 banks within the next 18 months.

Commenting on his appointment, Kumar Amit expressed his excitement to join Castler and contribute to the company’s pioneering efforts in bringing transparency and trust to the digital economy through innovative escrow banking solutions and other products. Amit acknowledged the growing demand for secure and seamless transactions amidst evolving regulations and saw tremendous growth potential for Castler. He eagerly anticipates collaborating with the team to scale the business, drive innovation, and forge strong partnerships with clients and stakeholders.