[Funding alert] Fintech startup Decentro raises $4.7 mn in Series A funding round

Fintech startup Decentro has raised $4.7 million (around Rs 37.6 crore) as a part of its Series A funding from Rapyd Ventures, Leonis VC and Uncorrelated Ventures.

The round also saw participation from Indian angel investors including Kunal Shah (Founder at Cred), Lalit Keshre (Groww), Beerud Sheth (Gupshup) and Pratekk Agarwaal (former BharatPe), as per reported by VCCircle.

The Bengaluru-based company intends to employ more employees across the business, product, technology, and operations sectors with the new profits.

Read also - [Funding alert] The Meat Chop Raises INR 7 Cr in Seed Funding

“This Series A round in the middle of the global funding winter is a vote of confidence for the company as we continue our journey to be the best API platform for banking integrations. We are on a strong growth path in the $200 billion fintech opportunity in India,” said Rohit Taneja.

By using its application programming interfaces, Decentro, a company founded in 2020 by Rohit Taneja and Pratik Daudkhane, enables neo banks, markets, and fintech firms to effortlessly interact and provide financial solutions (APIs).

Read also - GetSetUp partners with ICICI Prudential Asset Management Company Ltd to offer financial learning 

“Decentro is playing a role in developing new infrastructure to instantly move money, validate user identities and connect users to bank accounts and credit. Building their innovation layer in India first gives Decentro a great base to build scalable innovations that can be expanded as other emerging markets modernize their own infrastructure,” said Joel Yarbrough, managing director and vice president-Asia Pacific, Rapyd Ventures.

About Decentro

Decentro is a one-stop platform where customers can go, integrate with their preferred banking APIs, and go online in a matter of days. There's no need to waste time coordinating with numerous financial partners for more than five months in order to launch items.

Read also - [Funding alert] Health Tech Platform Mocero Health Raises Rs 1.3 Cr in Seed Funding Led by IPV