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

How does an escrow service work for formal giving platforms?

When a donor makes a contribution to a formal giving platform, the funds are held in escrow by the platform until the donation is completed. The platform then releases the funds to the recipient organization after it has received all of the necessary documentation.