Fintech Startup Decentro Secures Rs 30 Crore in Series B Funding

Decentro, a fintech startup supported by Y-Combinator, has successfully raised Rs 30 crore in its Series B funding round. InfoEdge Ventures led this funding, with additional contributions from Stargazer Growth and existing investors such as Uncorrelated Ventures. This funding milestone was exclusively reported by Startup Superb.

Funding Utilisation for Expansion

The raised capital is aimed at promoting enterprise adoption, enhancing product features, and bolstering market strategies across various financial institutions.

About Decentro’s Offerings

Co-founded by Rohit Taneja and Pratik Daudkhane, Decentro offers a range of services that include consumer and business verification, payment infrastructure for collections and disbursals, as well as AI-driven debt recovery systems. The API banking platform processes an impressive annual payment volume exceeding Rs 50,000 crore and intends to migrate its parent entity from Singapore to India within 12 to 18 months.

Client Base and New Innovations

The company claims profitability while serving over 1,300 businesses, including non-banking financial companies (NBFCs), digital lenders, banks, and fintech firms. Recently, Decentro introduced Scanner, a real-time risk assessment engine, and Neobot, a multilingual AI voice agent that focuses on debt collections.

Financial Performance Overview

According to various sources, Decentro recorded a 47% year-on-year increase in operating revenue, reaching Rs 17.7 crore in FY24, up from Rs 12 crore in FY23. However, despite this growth, the company incurred a loss of Rs 2.46 crore during the same fiscal period, following a profit in the previous financial year.