Decentro Raises 4 7 M From Rapyd Venture And Others
Bengaluru-based fintech startup Decentro raises $4.7 million in a Series A funding round. The founding round was led by Rapyd Venture and others including some Indian Angel Investors
Decentro a Y-Combinator-backed startup raises $4.7 million in a Series A funding round. It is a Bengaluru-based startup that offers banking and payments APIs that allow the development of fintech products such as banking, payment cards, Neobanking and collections and payout services in a short period of time.
Before this funding round, Decentro also raised $1.7 million in seed and angel rounds.
The Series A funding round is led by Rapyd Ventures, the venture arm of the UK fintech-as-a-service giant, with participation from Leonis VC and Uncorrelated Ventures. Indian angel investors such as CRED founder Kunal Shah, Groww co-founder and CEO Lalit Keshre, Gupshup co-founder and CEO Beerud Sheth and former CBO of BharatPe Pratekk Agarwaal also participated in the funding round.
Decentro has partnered with the industry players such as Axis Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, Visa, RuPay, Quickwork, Equifax, Aadhaar and National Securities Depository Limited (NSDL) to offer solutions for prepaid payment instruments, no-code workflows, conversational banking via WhatsApp and enable document verification and KYC process.
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