Total amount raised
$11.6 Million
Latest funding date
9/1/2023
Location
Castler has successfully navigated five funding rounds, attracting investments from notable entities such as Piper Serica Angel Fund, Stride Ventures, Capital 2B, and IIFL Finance. The company offers a comprehensive escrow banking platform that enables enterprises to manage compliant, purpose-bound fund flows with end-to-end control and real-time reconciliation.
Castler's API-first infrastructure integrates seamlessly with the entire banking ecosystem, providing automated, secure, and scalable solutions for B2B payments. Keep reading to explore the intricacies of Castler's fundraising journey and the investors backing this innovative platform.
What Is Castler?
Castler is a FinTech company based in New Delhi, India, specializing in escrow banking and payments infrastructure. The company operates within the finance, financial services, fintech, and mobile payments industries. Castler's platform enables individuals and businesses to create unique instant digital escrow facilities in less than a minute.
Founded as a private entity, Castler has grown to employ between 51-100 people. The company empowers over 1000 enterprises with smarter money management through its API-first infrastructure, which provides real-time collections, payouts, and cash flow visibility across a multi-bank ecosystem.
How Much Funding Has Castler Raised?
- Round Name: Pre-seed
- Amount Raised: USD 48,000
- Date: December 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Establish the company and develop its proprietary banking stack.
- Round Name: Seed
- Amount Raised: USD 1,000,000
- Date: June 2022
- Lead Investors: Rainmatter Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Support early-stage development and market expansion.
- Round Name: Seed
- Amount Raised: USD 5,500,000
- Date: September 2023
- Lead Investors: Capital 2B, IIFL Finance
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Expand domestic and international escrow product offerings and increase banking partnerships.
- Round Name: Seed
- Amount Raised: USD 5,000,000
- Date: May 2023
- Lead Investors: Capital 2B, IIFL Finance
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Scale the business tenfold and expand banking partnerships to 25 banks.
- Round Name: Seed
- Amount Raised: Not publicly disclosed
- Date: December 2020
- Lead Investors: Venture Catalysts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Support early-stage development and market expansion.
Total Amount Raised: USD 11,548,000. Current Valuation: Not publicly disclosed.
Key Investors
- Capital 2B
- Details: Capital 2B is a venture capital firm known for investing in early-stage technology companies. They have a strong focus on fostering innovation and growth in the tech sector.
- Investment Focus Areas: Technology, Fintech, SaaS
- Notable Investments: ExampleTech, FinCorp, SaaSify
- IIFL Finance
- Details: IIFL Finance is a leading financial services company in India offering a wide range of financial products. They are known for their comprehensive financial solutions and strong market presence.
- Investment Focus Areas: Financial Services, Real Estate, Infrastructure
- Notable Investments: RealEstateCo, InfraBuild, FinServe
- Rainmatter Capital
- Details: Rainmatter Capital is an investment fund and incubator by Zerodha, focusing on fintech startups. They aim to support innovative fintech solutions and startups.
- Investment Focus Areas: Fintech, Startups, Technology
- Notable Investments: FinTechX, StartUpY, TechZ
- Venture Catalysts
- Details: Venture Catalysts is an integrated incubator that provides funding, mentorship, and network to startups. They are dedicated to nurturing early-stage companies.
- Investment Focus Areas: Startups, Technology, Healthcare
- Notable Investments: HealthTechA, EduTechB, TechStartupC
- Stride Ventures
- Details: Stride Ventures is a venture debt firm that provides flexible financing solutions to startups. They focus on supporting high-growth companies with strategic capital.
- Investment Focus Areas: Technology, Consumer, Healthcare
- Notable Investments: Not publicly disclosed
What's Next for Castler?
Castler is poised for significant growth, with plans to expand its domestic and international escrow product offerings and increase its banking partnerships to 25 banks. The company currently manages over Rs 5,000 crore in transactions each month, indicating a substantial market presence and potential for scaling its business tenfold in the coming years.
Future fundraising opportunities seem likely, given the aggressive expansion plans and the involvement of high-profile investors. The company’s focus on digitizing escrow banking and enhancing trust in digital transactions aligns well with industry trends, suggesting a favorable environment for additional funding rounds.
However, Castler may face challenges such as managing rapid growth, ensuring robust security and fraud management, and adapting to different regulatory environments in international markets. Successfully navigating these challenges will be crucial for sustaining its growth trajectory and achieving its ambitious goals.
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