Decentro Revolutionizes Payments with Approved Fintech Innovation

After obtaining final approval to operate as an online payment aggregator in February of this year, the company has launched its most recent solutions. The company will be able to regulate merchant settlements and other transaction processes as a result of the banking regulator’s license. Flow 2.0 will allow enterprises to execute transactions within frameworks that have been approved by the Reserve Bank of India. Presently, the organization serves clients including Volopay, Kodo, and Shiprocket.
The online payment aggregator license has been granted to 22 companies this year, including Decentro. The company will now be directly subject to the RBI’s compliance obligations upon receiving approval from the regulator. In 2022, Rapyd Ventures, Leonis VC, and Uncorrelated Ventures contributed $4.7 million to the company’s Series A funding round.

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It is supported by Indian angel investors, including Kunal Shah of Cred, Lalit Keshre, co-founder and CEO of Groww, and Beerud Sheth, co-founder and CEO of Gupshup, among others. The Bengaluru-based fintech infrastructure platform primarily targets large merchants and onboards approximately 40 of these entities on a monthly basis.

“In simple terms, till now, we were a payment gateway. A payment gateway is somebody who is only handling the technology, but not the flow of money. As a payment aggregator, we can control that money flow into our escrow account and settle it with the merchant directly,” Taneja added. “Our strategy is to have maybe a couple of hundred, or less than a hundred (merchants) on a monthly basis. The ones we take on board tend to be mid-sized or large merchants,” he said.