Total amount raised
$6.3 Millions
Latest funding date
November, 2022
Location
Decentro has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The platform offers a comprehensive suite of APIs for payments, KYC, and banking services.
Keep reading to explore the intricacies of Decentro's fundraising journey and the investors backing this innovative platform.
What Is Decentro?
Decentro, founded in 2020 by Pratik Daudkhane and Rohit Taneja, is headquartered in Singapore. The company specializes in providing APIs for payments, KYC, and banking services, enabling businesses to integrate financial functionalities seamlessly.
With a team of 51-100 employees, Decentro focuses on simplifying the product development cycle by offering a range of APIs that facilitate real-time transactions, user identity verification, and compliance with regulatory requirements.
Decentro's platform is designed to help businesses launch their fintech products quickly and efficiently, leveraging a suite of APIs that cover various financial services.
How Much Funding Has Decentro Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: July 6, 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their API platform and establish initial market presence.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: September 1, 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their product offerings and expand their team.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: February 11, 2021
- Lead Investors: FundersClub
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance their API suite.
- Series A
- Amount Raised: $4.7M
- Date: October 31, 2022
- Lead Investors: Rapyd Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up hiring and expand their customer base to larger enterprise platforms.
Total Amount Raised: $4.7M
Current Valuation: Not publicly disclosed
Key Investors
- Rapyd Ventures
- Details: Rapyd Ventures is the venture arm of the UK-based fintech-as-a-service giant Rapyd. They focus on investing in innovative financial services infrastructure.
- Investment Focus Areas: Fintech, financial services, payment solutions
- Notable Investments: Not publicly disclosed
- FundersClub
- Details: FundersClub is a venture capital firm that provides early-stage funding to technology startups. They are known for their extensive network of accredited investors.
- Investment Focus Areas: Technology, fintech, SaaS
- Notable Investments: Coinbase, Instacart, GitLab
- Leonis VC
- Details: Leonis VC is a European venture capital firm that invests in early-stage technology companies. They focus on providing strategic support to their portfolio companies.
- Investment Focus Areas: Technology, fintech, SaaS
- Notable Investments: Not publicly disclosed
- Uncorrelated Ventures
- Details: Uncorrelated Ventures is a California-based venture capital firm that invests in technology startups. They focus on companies that are building innovative solutions in various sectors.
- Investment Focus Areas: Technology, fintech, enterprise software
- Notable Investments: Not publicly disclosed
- Kunal Shah
- Details: Kunal Shah is the founder of CRED, a fintech company that rewards users for paying their credit card bills on time. He is also an active angel investor in the Indian startup ecosystem.
- Investment Focus Areas: Fintech, consumer technology, startups
- Notable Investments: CRED, Razorpay, Unacademy
What's Next for Decentro?
Decentro is poised to capitalize on the burgeoning fintech market, particularly in India, where the opportunity is valued at $200 billion. With partnerships with major banks and financial institutions, the company is well-positioned to expand its offerings in banking APIs, payment solutions, and Neobanking. The recent Series A funding round, led by Rapyd Ventures, underscores strong investor confidence, setting the stage for future fundraising opportunities.
However, Decentro will need to navigate regulatory challenges and intense competition from other fintech startups and established financial institutions. Maintaining the security and reliability of their API solutions will be crucial as they scale operations and explore new markets. Despite these challenges, the company's innovative approach and strategic partnerships suggest a promising path forward.
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