Latest news with #PratikDaudkhane
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
Decentro raises Rs 30 crore, plans reverse flip to India
Representative image Bengaluru: Fintech infrastructure startup Decentro has raised Rs 30 crore in a Series B funding round led by InfoEdge Ventures, with participation from Stargazer Growth and existing backers such as Uncorrelated Ventures. As part of the move, the company also plans to reverse flip its parent entity from Singapore back to India within the next 12-18 months. The Bengaluru-headquartered API platform, which powers over Rs 50,000 crore in annual payment volumes across over 1,300 clients, said it has turned profitable and will use the new capital to deepen enterprise adoption across KYC, payments and debt collections. Founded by Rohit Taneja and Pratik Daudkhane, Decentro has positioned itself as a backend fintech infrastructure player, powering banking and financial workflows for NBFCs, fintech firms, digital lenders, and banks. 'This fundraise allows us to double down on deep partnerships with enterprise customers and build products that power mission-critical financial flows,' said Taneja. As part of its product expansion, the company has recently rolled out two AI-powered modules – Scanner, a real-time user profiling and risk engine, and Neobot, a multilingual AI voice agent aimed at automating debt collections. Neobot targets India's Rs 10 lakh crore non-performing asset (NPA) burden by providing voice-based recovery support for lenders. The company's payments stack remains its largest revenue contributor. Decentro said the new funds will also be deployed to strengthen its go-to-market efforts across financial institutions. With its planned flip to India, Decentro joins a growing number of fintech startups choosing to domicile locally amid a maturing ecosystem and evolving regulatory landscape. 'We are building not just for India, but from India for global opportunities,' said Daudkhane. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
