Decentro, a fintech firm supported by Y-Combinator, has raised Rs 30 crore in its Series B fundraising round, which was headed by InfoEdge Ventures and included participation from Stargazer Growth and previous investors including Uncorrelated Ventures.
The Series B round was recently reported exclusively by Entrackr.
The money raised will be put toward increasing corporate usage, enhancing product capabilities, and bolstering financial institutions’ go-to-market initiatives.
The products offered by Decentro, which was co-founded by Rohit Taneja and Pratik Daudkhane, include AI-driven debt recovery systems, payment infrastructure for collections and disbursals, and consumer and business verification.
The API banking platform, which handles yearly payment volumes above Rs 50,000 crore, intends to relocate its parent company from Singapore to India in the upcoming 12 to 18 months.
The business, which serves over 1,300 companies, including banks, fintech companies, digital lenders, and NBFCs, claims to be profitable. Neobot, a multilingual AI speech agent specializing in debt collections, and Scanner, a real-time risk assessment engine, were recently introduced.
Decentro’s operating revenue increased by 47% year over year to Rs 17.7 crore in FY24 from Rs 12 crore in FY23, according to media. Nevertheless, the company reported a profit in the preceding fiscal year but fell into a deficit of Rs 2.46 crore over the same period.
