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 companies, and we’re sure that our prospects will discover this newly launched service utilizing Castler’s digital escrow companies platform of nice significance in making certain well timed and reliable financial transactions,” Ajay Rajan, Nation Head, Transaction Banking Group,
mentioned.
Operational since April 2021, Castler is the escrow resolution 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 usually fairly complicated and Castler with its digital providing has demonstrated that know-how and innovation can present options to even essentially the most complicated necessities.
“Belief is crucial part as companies and transactions turn out to be fully digital. Castler is constructing the epitome of belief via its digital escrow platform. Sure Financial institution’s dominance in growing 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 resolution – Castler SmartEscro – to make monetary transactions secure and safe.