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.
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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.
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'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.
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'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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