The corporate mentioned the tie-up will additional strengthen its digital management place and is a part of an effort to make banking extra inclusive and accessible to its rising shopper base.
“Prevalent enterprise necessities and associated digitization wants have accentuated the demand for digital escrow providers, and we’re sure that our clients will discover this newly launched service utilizing Castler’s digital escrow providers platform of nice significance in guaranteeing well timed and reliable financial transactions,” Ajay Rajan, Nation Head, Transaction Banking Group,
Operational since April 2021, Castler is the escrow answer for over 150 enterprises and manages over Rs1000 crore in transactions each month. In June, Castler raised $1 million from Zerodha’s enterprise capital arm Rainmatter, with participation from Enterprise Catalysts, 9Unicorns, Faad Community and LetsVenture.
The financial institution mentioned escrow banking is mostly fairly advanced and Castler with its digital providing has demonstrated that know-how and innovation can present options to even essentially the most advanced necessities.
“Belief is crucial element as companies and transactions turn out to be fully digital. Castler is constructing the epitome of belief by way of its digital escrow platform. Sure Financial institution’s dominance in creating digital-first methods for SMEs, MSMEs, fintechs and startups will assist Castler serve a bigger viewers of shoppers,” Vineet Singh, co-founder & CEO, Castler mentioned.
In July 2021, the startup launched the nation’s first white-label digital escrow answer – Castler SmartEscro – to make monetary transactions secure and safe.