Escrowpay
has announced completion of a $600 thousand capital raise from its existing investors. The latest infusion brings the total raised to an impressive $6.6 million, contributing to the ongoing
Series A round
targeting $15 million.
The company recently secured the first
digital escrow
regulatory fintech authorization from IFSCA,
Gift City
. The company claims to have over 3000 clients, including SMEs, unicorns, listed enterprises, and emerging digital-first businesses across India, Escrowpay has processed transactions exceeding Rs. 15,000 crore. The fresh capital injection will be strategically utilized to accelerate Escrowpay's initiatives, support key growth areas, and foster innovation within the payments ecosystem. As part of its expansion plans, Escrowpay is intensifying its focus on cross-border transactions with a presence in overseas geographies such as UAE and the UK. The groundwork for this expansion has already begun, reflecting the company's commitment to meeting the evolving needs of its clients on a global scale.
One of the significant developments is the launch of BizSuraksha, an industry-first ‘on-the-go and on-demand escrow’ digital solution. This self-serve platform is designed to empower startups and SMEs, enabling them to secure collections and payments seamlessly.
BizSuraksha
addresses the specific needs of businesses that may not be tech-savvy or lack their own tech team, ensuring a streamlined and efficient cash flow equilibrium for sustained business growth.
Ashwin Chawwla, Managing Director of Escrowpay, expressed gratitude for the continued support from existing investors. “We have been building relentlessly to digitize cash optimization solutions since 2015. We are grateful for the continued support and confidence shown by our existing investors. This capital infusion positions us well for the next phase of growth, allowing us to execute on our strategic vision and deliver exceptional value to our customers and stakeholders. With the launch of BizSuraksha, Escrowpay has delivered an innovative ‘on demand’ digital escrow solution for smaller businesses that are not tech savvy or do not have their own tech team,” he said.
English (US) ·