New Delhi, June 6 -- Decentro, a fintech startup that provides banking infrastructure, said Friday it has raised Rs 30 crore ($3.5 million) in its Series B funding round led by InfoEdge Ventures.
Stargazer Growth, which is backed by Groww chief executive officer Lalit Keshre, and existing investors including Uncorrelated Venture also participated in the funding round, Decentro said in a statement.
The company plans to use the fresh capital to deepen enterprise adoption, enhance product capabilities, and expand overall trade and marketing initiatives across financial institutions, including banks, non-banking financial companies (NBFCs), fintech platforms, and digital lenders.
"Our goal has always been to make financial and banking infrastructure simple, secure, and reliable at scale. This fundraiser allows us to double down on what's working well: deep partnerships with enterprise customers and building products that power mission-critical financial flows," said Rohit Taneja, co-founder and CEO of Decentro.
Decentro says it follows a three-pronged approach, which includes know-your-customer and data intelligence, payments and debt collection. It claims to provide infrastructure to over 1,300 companies across NBFCs, fintech platforms, digital lenders, and banks. The company has recently launched new AI products, including Scanner, which is a real-time user profiling and risk assessment engine, and Neobot, a multilingual AI voice agent for automated debt collections.
After the fundraising, the company is working on reverse flipping its parent entity's location from Singapore back to India. It plans to complete the process over the next 12-18 months.
"This flip is a strong statement of our commitment to India and our belief in its capacity to foster and scale global financial infrastructure companies," said Pratik Daudkhane, co-founder of Decentro.
Prior to this, the company had raised $4.7 million in its Series A funding from Rapyd Ventures, Leonis VC and Uncorrelated Ventures, along with a clutch of angel investors including Cred founder Kunal Shah, Groww's Keshre, Gupshup's Beerud Sheth and former BharatPe executive Pratekk Agarwaal. It also raised an undisclosed amount in its seed funding round led by FundersClub, with participation from VentureSouq, Locus Ventures, Constellation Capital, and AngelList syndicate Unpopular Ventures.
Published by HT Digital Content Services with permission from VC Circle.