India | 12th February 2021: Decentro, an banking API Integration platform for businesses, announced the raise of their follow-on capital that added to their seed round of funding. This capital was led by FundersClub (the world’s first online venture capital platform), along with VentureSouq, Locus Ventures, Constellation Capital, and a popular Angelist syndicate Unpopular Ventures (led by Peter Livingston and Thibault Reichelt).
Decentro raised its first round of funding in May 2020, followed by this larger one in October 2020, just a few weeks out of the latest fully digital batch of Y Combinator S20.
This round also saw the addition of a few more angel investors from the US, India, and Southeast Asia. Along with partnering with banks to build Banking-As-A-Service (BaaS) products, the company has plans to double the team strength and customer base by 5X in 2021.
Decentro has also onboarded Siddharth Dhamija and Shirish Chandrakar to its team of Banking and FinTech experts as advisors and will provide their expertise in payments and Digital Transformation respectively.
On the latest developments, Rohit Taneja, Founder, Decentro, said, “We are at the epicentre of the fintech revolution and are creating the much-needed infrastructure to open access to money flow, data, hassle free banking and financial services for all companies. We are extremely excited to be backed by some of the most well-known investors in the world. Our focus is to remove existing technological barriers and enable companies to launch their products in weeks rather than months. We are very happy to welcome Shirish and Siddharth on board as part of our advisory council, which will further help us in building our business to be ready for enterprise-scale.”
Siddharth Dhamija has more than two decades of experience, working with global leaders in Payments, Ecommerce, Telecom, financial services and more. He is currently the CEO of ZaakPay at Mobikwik, and was earlier working with Paypal and Razorpay in growth capacities based out of India. On the other hand, Shirish Chandrakar has two decades of experience of helping business digitally transform by leveraging technology in the APAC region, and is currently based out of Singapore.
