PE-VC Fund Investments
API banking platform Decentro to raise Rs.26-Cr in Series B led by Info Edge
Bengaluru-based, Y-Combinator-backed fintech startup Decentro is to raise INR 26.3 crore (around USD 3 million) in its Series B round led by Info Edge (INR 25 crore) with participation from Startgazer Ventures (INR 1 crore) and Infinyte Club Angel Fund (INR 30 lakh). The company is to issue 2 equity shares and 14,260 Series B CCPS (compulsorily convertible preference shares) at INR 18,442 each to raise the sum.Founded in 2020, Decentro is an API platform that simplifies banking integrations for businesses, enabling them to quickly launch and scale financial products. It offers a full-stack solution for onboarding, account creation, payments, and other banking services.
Between Jul 2020 and Nov 2022, Decentro had attracted about USD 5 M from Growthcap Ventures, Leonis VC, Rapyd Ventures, Uncorrelated Ventures, Beerud Sheth, Kunal Shah, Lalit Keshre and UpSparks.For FY24, Decentro had reported about INR 18 Cr in Operating Income and about INR 2 Cr in Net Loss.
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