The first digital escrow regulatory fintech authorization has been given to Escrowpay, the foremost digital escrow platform, by IFSCA and Escrowpay will issue an additional $4 million in warrants, bringing its total fundraising to $6 million.
With this authorization, the platform will be able to start transacting internationally in over 14 different currencies and provide financial services to small and medium-sized businesses (SMEs) in India.
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“The authorisation will enable the company to further bolster its suite of offerings and commence cross border transactions in over 14 world currencies. As we celebrate this significant milestone, we extend our gratitude to our customers, banking partners, and the dedicated Escrowpay team whose hard work and commitment have made this achievement possible,” said Escrowpay cofounder and managing director Ashwin Chawwla.
Investors such as Tano India Opportunities Fund, Zenith Global Group, We Founder Circle, JB Ventures, AngelList, Inflection Point Ventures, Chhattisgarh Investments, and others presently support Escrowpay.
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The business intends to follow in UPI’s footsteps and go worldwide, emphasising transactions across borders and setting up shop in foreign countries like the UAE.
About Escrowpay
Escrowpay, a company founded in 2015 by Ashwin Chawla and Saurabh Kumar Neogi, asserts to provide safe, transparent, and easy-to-use digital escrow services for both people and companies.
Escrowpay is a well-known digital platform for escrow and settlements. Their priorities are value creation for its shareholders, innovation, customer happiness, brand building, and providing an amazing work environment for its staff.
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