Decentro, a fintech firm, obtains $4.7M in a Series A round of funding

• ByStartupStory     |    November 1, 2022

backed by Y Combinator, a banking and payments API infrastructure business called Decentro has raised $4.7 million in a Series A fundraising round that was organised by Rapyd Ventures in Singapore and the US, Leonis VC in Europe, and Uncorrelated Ventures in California.

Kunal Shah, creator of CRED, Lalit Keshre, co-founder and CEO of Groww, Beerud Sheth, co-founder and CEO of Gupshup, and Pratekk Agarwaal, former CBO at BharatPe, were among the other Indian angel investors who took part in the round. The financial startup with headquarters in Bengaluru plans to use the capital to increase hiring across its business, product, tech, and operations teams.

In order to provide solutions for prepaid payment instruments, no-code workflows, conversational banking via WhatsApp, document verification, and KYC process, Decentro has partnered with key players in the market, including Axis Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, Visa, RuPay, Quickwork, Equifax, Aadhaar, and National Securities Depository Limited (NSDL).

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