Castler, an escrow banking solution provider, said it had raised $1 million in a seed funding round led by Zerodha’s venture capital arm Rainmatter, with participation from Venture Catalysts, 9Unicorns, Faad Network and LetsVenture.
The firm said it would make use of the funds to further expand its domestic and cross-border escrow product portfolio, go live with 10 more banks, and grow its business by 10 times over the next one year.
“With this funding round, we look forward to continued growth at breakneck speed,” said founder Vineet Singh.
Currently, the firm provides services to nine Indian and global banks.
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