Latest news with #LalitKeshre
New Indian Express
2 days ago
- Business
- New Indian Express
Fintech start-up Decentro to flip back to India; raises Rs 30 crore
BENGALURU: After PhonePe and Razorpay, now Decentro, the API banking platform, will shift its parent entity from Singapore to India over the next 12-18 months. The decision reflects a broader trend of Indian fintech companies choosing to domicile in India. "This flip is a strong statement of our commitment to India and our belief in its capacity to foster and scale global financial infrastructure companies. We are building not just for India, but from India for global opportunities,' said Pratik Daudkhane, Co-founder of Decentro. Fintech start-up Decentro, which handles over Rs 50,000 crore in annual payment volumes, on Friday announced that it has raised Rs 30 crore in its Series B funding round. So far, the company has raised a total of 8.19 million dollars. The round was led by InfoEdge Ventures, with participation from Stargazer Growth—backed by Groww CEO Lalit Keshre—and existing investors including Uncorrelated Ventures. The funding comes at a time when Decentro has turned profitable. The company said it will use the fresh capital to drive enterprise adoption, improve its product capabilities, and strengthen go-to-market efforts across financial institutions such as banks, NBFCs, fintech firms, and digital lenders. 'This fund raise allows us to double down on what's working well; deep partnerships with enterprise customers and building products that power mission-critical financial flows. India is where it all started, and we want to make this our long-term base with the eventual flip,' said Rohit Taneja, Co-founder & CEO of Decentro. Decentro's plans come at a time when Indian fintechs are increasingly choosing to base themselves in India. Recently, unicorn Razorpay moved its domicile from the US to India and will pay about Rs 1,275 crore in taxes. The company is aiming for an IPO before the end of the calendar year 2026. In 2022, another fintech player, PhonePe, also shifted its base from Singapore to India, with its investors paying Rs 8,000 crore in taxes to complete the move.
Time of India
2 days ago
- Business
- Time of India
Fintech startup Decentro raises Rs 30 crore, will shift domicile to India
Y Combinator-backed fintech startup Decentro has raised Rs 30 crore in a funding round led by InfoEdge Ventures . In making the announcement, the company also said it plans to shift its parent entity's domicile from Singapore to India over the next 12 to 18 months. The round saw Stargazer Growth (backed by Groww cofounder Lalit Keshre) and existing investors, including Uncorrelated Ventures, also participate. The fresh capital will be used by the Bengaluru-based company to deepen enterprise adoption and enhance its product capabilities, among other initiatives. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Direct Shopping From Adidas Franchise to 50% off Adidas Buy Now Undo Decentro claims to have achieved profitability and built a client base of over 1,300 enterprises, including banks, non-banking finance companies (NBFCs), and fintechs. Founded in 2020 by Rohit Taneja and Pratik Daudkhane, the company offers a suite of application programming interfaces (APIs) across customer onboarding through know your customer (KYC), data intelligence, payments, and debt collections. Live Events 'Our goal has always been to make financial and banking infrastructure simple, secure, and reliable at scale. This fundraise allows us to double down on what's working well; deep partnerships with enterprise customers and building products that power mission-critical financial flows,' said Taneja, who is the CEO of the firm. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories 'India is where it all started, and we want to make this our long-term base with the eventual flip,' he added. Among Decentro's recent products are a real-time profiling engine called Scanner, and Neobot, a multilingual AI voice agent for automated debt collections. With the decision to relocate to India, Decentro joins a growing list of Indian startups shifting domicile from overseas markets like the US and Singapore as IPO ambitions rise and regulatory clarity improves. The latest fintech company to complete a reverse flip was Razorpay , following Groww, which completed the process in May 2024 and has since confidentially filed for an IPO with the Securities and Exchange Board of India (Sebi). Dream Sports, the parent of Dream11, was the first to complete a reverse flip under the new fast-track framework, as reported by ET on March 4. These updated rules allow foreign holding entities to merge with their Indian subsidiaries without requiring National Company Law Tribunal (NCLT) approval, a process that earlier took months. Other companies that have completed the move include PhonePe and Zepto, while Meesho, KreditBee, InMobi, Udaan, and Pine Labs are expected to follow soon. 'This flip is a strong statement of our commitment to India and our belief in its capacity to foster and scale global financial infrastructure companies. We are building not just for India, but from India for global opportunities,' said Daudkhane.
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Business Standard
2 days ago
- Business
- Business Standard
Fintech firm Decentro initiates reverse-flip process from Singapore
This comes at a time when the Bengaluru-based firm is raising about ₹30 crore as part of the Series-B funding round led by InfoEdge Ventures Ajinkya Kawale Mumbai Listen to This Article Fintech firm Decentro has initiated its reverse flip, starting the process to shift its jurisdiction from Singapore to India within the next 12 months, a senior company executive said. This comes at a time when the Bengaluru-based firm is raising about ₹30 crore as part of the Series-B funding round led by InfoEdge Ventures along with Groww founder Lalit Keshre's fund Stargazer Growth, and existing investors. The latest round of funding will enable the company to scale its existing line of products, including Know Your Customer (KYC) and onboarding, debt collections, and payments. 'I feel the (flip) can be done
News18
26-05-2025
- Business
- News18
New IPO 2025: Online Broker Groww Files Confidential IPO Papers With SEBI
Last Updated: Groww IPO: Groww plans to list its equity shares (face value Rs 2 each) on NSE and BSE's main boards. Groww IPO: The online brokerage firm Groww is reportedly filed confidential IPO papers with the market regulator SEBI on Monday. The company seeks comments from SEBI on IPO without disclosing its IPO documents to the public. The process is now at pre-filing mechanism before submitting DRHP (Draft Red Herring Prospectus) later. Groww's parent entity Billonbrains Garage Ventures Limited said in a public notice on Monday that the DRHP was submitted under Chapter IA of the SEBI ICDR Regulations. Earlier, MoneyControl reported that Groww is simultaneously looking to raise about $150 million (Rs 1272 crore). The valuation of Groww will likely increase to $7 billion post-money valuation. MoneyControl reported that the issue size could be in the range of $700-800 million (Rs 5942-6791 crore), given IPO valuation of $7-8 billion amid the market sentiment and volatility. Groww plans to list its equity shares (face value Rs 2 each) on NSE and BSE's main boards. Its consolidated operational profit increased by 17 percent to Rs 535 crore for the year ending March 2024, compared to Rs 458 crore reported the previous year. The consolidated revenue for FY23 was Rs 1,435 crore. Founded in 2017, Groww was started as a direct mutual fund distributor platform by four ex-Flipkart employees – Lalit Keshre, Harsh Jain, Ishan Bansal and Neeraj Singh. Following user demand, Groww added stocks in the early half of 2020 and the same year launched digital gold, ETFs, Intraday trading, IPOs in quick succession. Today, Groww is the largest stock broker based on active clients. As of March 2025, its total subscriber base is at 13.03 million (1.3 crore). Its competitor Angel One brought its IPO in September 2020, at the price band of Rs 305 to Rs 306 per share. The company raised Rs 600 crore via IPO. Angel One IPO bidding started from September 22, 2020 and ended on September 24, 2020. The allotment for Angel One IPO was finalized on Tuesday, September 29, 2020. The shares got listed on BSE, NSE on October 5, 2020. While Zerodha isn't a listed entity. First Published: May 26, 2025, 11:39 IST
Zawya
20-05-2025
- Business
- Zawya
India's Groww plans to file for up to $1bln IPO: IFR
Indian online broker Groww plans to file confidentially for an up to US$1bn IPO over the next few weeks, people with knowledge of the transaction said. Axis Capital, Citigroup, JP Morgan, Kotak and Motilal Oswal are the banks on the IPO. The company shifted its domicile from the US to India last year to enable a local listing. CEO Lalit Keshre is the co-founder of the company, whose other shareholders include Y Combinator, Peak XV Partners and Tiger Global.
