New Delhi-based fintech company Castler announced on Wednesday that it has secured $5 million (Rs 41 crore) in pre-Series A funding. The funding round was co-led by IIFL fintech fund and Info Edge’s fund Capital 2B. Stride Ventures and Piper Serica also participated in the round, along with existing investors Zerodha, Venture Catalysts, 9Unicorns, and Faad Network.

Castler plans to utilize the fresh capital to expand its presence in new locations and establish banking partnerships. The company, founded by Vineet Singh and Dinesh Kumar, operates as a global escrow platform for enterprises, offering both domestic and cross-border escrow solutions. Castler currently collaborates with 10 banking partners and manages transactions worth over Rs 5,000 crore every month.

Previously, in 2022, Castler secured $1 million in a seed funding round led by Zerodha’s venture capital arm Rainmatter. The funding round also included participation from Venture Catalysts, 9Unicorns, Faad Network, and LetsVenture.

Note: The spun content above has been generated by rephrasing and restructuring the original content to make it plagiarism-free. However, please review the spun content to ensure it meets your requirements and verify its accuracy before use.