In a promising development for India’s rapidly growing fintech ecosystem, Y-Combinator-backed API banking platform Decentro has secured Rs 30 crore in its Series B funding round, led by InfoEdge Ventures. The round also saw participation from Stargazer Growth and returning investors such as Uncorrelated Ventures, signaling continued confidence in the company’s mission and momentum.
The Bengaluru-headquartered startup, co-founded by Rohit Taneja and Pratik Daudkhane, has steadily built a reputation for simplifying complex financial integrations. From consumer and business verification to end-to-end payment infrastructure and AI-led debt recovery systems, Decentro’s product suite has become indispensable to over 1,300 businesses, including NBFCs, banks, digital lenders, and rising fintechs.
With the fresh capital infusion, the company aims to double down on enterprise adoption, enhance its product capabilities, and scale its go-to-market efforts, particularly targeting financial institutions. The funding also supports its strategic decision to shift its parent entity from Singapore to India over the next 12 to 18 months—underscoring its long-term commitment to the Indian market.
Notably, Decentro is already processing over Rs 50,000 crore in annual payment volumes. The company, which claims to be profitable, recently introduced two new innovations: Scanner, a real-time risk assessment engine, and Neobot, a multilingual AI voice agent tailored for debt collections—showcasing its continued investment in cutting-edge automation and compliance tools.
However, FY24 came with its own set of challenges. According to data from TheKredible, the company posted a 47% increase in operating revenue—from Rs 12 crore in FY23 to Rs 17.7 crore in FY24—but slipped into a loss of Rs 2.46 crore, after reporting profits in the previous fiscal. While this indicates growing operational investments, it also reflects the startup’s bold bet on scaling up.
As India pushes for deeper financial inclusion and infrastructure modernization, players like Decentro are at the heart of the transformation—building the rails for a more connected, intelligent, and inclusive financial future.
