Kessler will use the money for its domestic and cross-border expansion. Escrow Product Portfolio, and is expected to go live with 10 more banks. According to the company’s statement, the startup is also planning to grow its business 10 times next year.
Founded in January 2021 by Vineet Singh, Dinesh Kumar and Ritesh Tiwari, the Delhi-based startup provides escrow management solutions, domestic and cross-border escrow solutions for enterprises and banks.
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“Our simplified, technology-fueled platform and high-capacity experience allow us to think like a large organization but execute like a startup. With this funding, we would like to grow further,” said Vineet Singh, Founder, Casler Told.
Commenting on the investment, Nitin Kamath, Founder, Zerodha & RainMatter, said, “Casler is addressing a real pain point around escrow account solutions, which have multiple use cases in financial transactions. We are excited to partner with them.”
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In July 2021, the startup launched Castler SmartEscrow – the country’s first white-label digital escrow solution to make financial transactions safe and secure.