The company said that this recent investment would enable it to boost its expansion strategy for both domestic and cross-border escrow services. The firm intends to establish partnerships with over 25 banks, targeting substantial growth in the coming years.
“Having Flipkart Ventures as an investor is a noteworthy accomplishment that underscores Castler’s strong performance and cements our pole position in the escrow banking industry. We have everything in place now to execute and build a large business,” Vineet Singh, Co-Founder & CEO of Castler, said in a statement.
Lubna Ahmed, Head of Flipkart Ventures, said, “Flipkart has always been at the forefront of empowering the startup ecosystem in India. We are excited to witness the transformative journey of startups in India as they harness Flipkart’s resources and guidance to bring their innovative ideas to life. We are pleased to invest in Castler as it continues to fuel innovation and growth in its industry. The investment is being made by Flipkart Ventures through its cohort-based Leap Ahead program.”
Castler is the escrow solutions partner for over 200 startups and over 150 NBFC’s and LSP’s. It is now launching full-stack solutions for liquidation and RERA escrows in partnership with banks, IRPs and NBFCs.
