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

New Delhi-based fintech platform Castler raised pre-Series A funding

Castler, a Delhi-based fintech startup, recently announced securing $5 million (approximately Rs. 41 crore) in pre-Series A funding. The investment came from Info Edge’s Capital 2B fund and IIFL fintech fund, with participation from Stride Ventures and Piper Serica, along with existing investors Zerodha, Venture Catalysts, 9Unicorns, and Faad Network.

The newly acquired funds will enable Castler to expand its banking alliances and extend its global presence. The company, founded by Vineet Singh and Dinesh Kumar, operates as a global escrow platform, offering domestic and international escrow solutions for businesses.

Castler prides itself on collaborating with 10 banking partners and facilitating monthly transactions valued at over Rs. 5,000 crore.

Prior to this funding round, Castler had secured $1 million in seed finance during 2022. The investment came from a consortium led by Rainmatter, the venture capital arm of Zerodha, and included Venture Catalysts, 9Unicorns, Faad Network, and LetsVenture.

In conclusion, Castler, a fintech startup based in New Delhi, has raised $5 million in pre-Series A funding from investors such as Info Edge’s Capital 2B fund and IIFL fintech fund. The company plans to utilize the funds to expand its banking alliances and enhance its global reach. Castler, founded by Vineet Singh and Dinesh Kumar, operates as a global escrow platform, offering both domestic and international escrow solutions for businesses. With collaborations with 10 banking partners and significant monthly transaction volumes, Castler aims to solidify its position in the fintech industry.