The company said the tie-up will further strengthen its digital leadership position and is part of its effort to make banking more inclusive and accessible to its growing consumer base.
Ajay Rajan said, “Business requirements and associated digitization needs have driven the demand for digital escrow services, and we are certain that our customers are using Kessler’s digital escrow service platform to ensure timely and reliable monetary transactions. Will get this newly launched service.” country head, transaction banking group,
Told.
Coming into operation from April 2021, Kessler is an escrow solution for over 150 enterprises and handles over Rs 1000 crore in transactions every month. In June, Kasler raised $1 million from ZerodhaWith the participation of RainMatter, the venture capital arm of Venture Catalyst9Unicorns, Faad Network and LetsVenture.
The bank said that escrow banking is typically quite complex and Kessler has demonstrated with its digital offering that technology and innovation can provide solutions to even the most complex needs.
“Trust is the most important component as businesses and transactions go completely digital. Kessler is creating a symbol of trust through its digital escrow platform. Yes Bank’s dominance in developing digital-first strategies for SMEs, MSMEs, fintechs and startups will help Kessler serve a larger audience of customers,” said Vineet Singh, Co-Founder and CEO, Casler.
In July 2021, the startup launched Castler SmartEscrow – the country’s first white-label digital escrow solution to make financial transactions safe and secure.