Global escrow banking solution provider Castler has secured $1 million in funding from Zerodha's venture capital arm, Rainmatter, with additional participation from Venture Catalysts, 9Unicorns, Faad Network, and LetsVenture.

The company plans to utilize the funds to expand its domestic and cross-border escrow product portfolio and aims to partner with ten more banks. Additionally, Castler intends to grow its business tenfold over the next year.

“Vineet Singh highlights that Castler's combination of a streamlined, technology-driven platform and extensive experience enables the company to operate with the agility of a startup while maintaining the perspective of a large organization. The recent funding will support their continued growth efforts.”