Tag: Decentro

Business

Decentro Launches fully RBI-Compliant Next-Gen Payment Aggregator stack for India

May 23, 2024 by Sujata Muguda 0 Comments #Bangalore, #BFSI, #Decentro, #India’s leading fintech infrastructure platform, #innovation, #Muthoot Capital, #Pratik Daudkhane, #RBI, #RBI-Compliant Next-Gen Payment, #Rohit Taneja

Bangalore, 23May 2024: Decentro, India’s leading fintech infrastructure platform, proudly announces the launch of its next-generation Payment Stack (Flow 2.0). The stack is designed to seamlessly address businesses’ expansive payment needs, delivering high performance, unwavering compliance, and utmost security. It marks a significant move to continue transforming digital payment solutions with enhanced efficiency and reliability while simplifying businesses’ integration and operation of their day-to-day payment collections.

Decentro Logo

According to industry reports, the Indian payment market is estimated at USD 357.51 billion in 2024. It is expected to reach USD 814.42 billion by 2029, growing at a CAGR of 17.90% during the forecast period (2024- 2029). However, today, merchants and financial institutions find it a growing challenge to simplify the integration process and comply with regulations .

“This milestone couldn’t come at a more opportune moment as we complete our 4 years of operations as one of India’s leading fintech infrastructure providers. Since inception, our goal has been to streamline the most intricate financial processes for businesses across the spectrum, and the introduction of the Flow 2.0 stack underscores this commitment. Witnessing a remarkable 300% growth in our customers’ transactions in just the past 12 months stands as a testament to our product quality and differentiation in solutions.” – Rohit Taneja, Co-founder and CEO of Decentro.

“We are focused on providing businesses with a robust, secure, and fully compliant solution that addresses their diverse payment requirements and significantly elevates operational efficiency. To put things in perspective, we see a ~30% reduction in operational costs and a 3X reduction in time to market amongst our merchants by switching to our digital payments stack, recurring payments via e-NACH & UPI Autopay, as well as our automated reconciliation system” – Pratik Daudkhane, Cofounder.

Flow 2.0 will help enterprises sharpen their focus on critical features, including exceptional performance through fast and reliable transaction processing and complete RBI compliance to ensure operations within frameworks. This stack also provides enhanced security with top-tier measures to protect sensitive data and unmatched stability built on a solid infrastructure that minimizes downtime for continuous, uninterrupted business operations.

Flow currently empowers payments for customers like Shiprocket, Kodo, Volopay, etc., with unique advantages such as industry-best success rates and lowest downtimes, ensuring minimal disruptions and maximised business efficiency. It supports faster go-to-market strategies with rapid deployment capabilities, enabling 10X improvement overall in Capex and Opex combined.

With this development, Decentro aims to empower categories such as BFSI, Logistics, Online Marketplaces, and fintech/SaaS platforms. In under four years, the Decentro group has rapidly built a full-stack fintech infrastructure platform that provides solutions to more than 800 companies, including Freo (MoneyTap), CashE, Muthoot Capital, Credit Fair, Shiprocket, Protium Finance, and many more. With critical pillars of customer experience, innovation, and compliance, Decentro currently has 40+ deep APIs, SDKs & automated workflows catering to the entire value chain of a company’s financial infrastructure needs across payments, identity, and credit.

Pratekk_Decentro_Investor & Advisor
Business, News

BharatPe Ex Chief Business Officer Pratekk Agarwaal joins Decentro as an Investor & Advisor

Aug 12, 2021 by Rekha Nair 0 Comments #Decentro, #Founder & CEO, #Pratekk Agarwaal, #Rohit Taneja

India: Decentro, one of India’s leading API banking platforms, is pleased to announce that it has added Pratekk Agarwaal to its growing list of advisory council members. He will support Decentro with strategic advice on expanding alliances with fintechs, banks, NBFCs and insurtech companies that are looking to embed API Banking workflows. He is also an angel investor at Decentro and will help them with his deep network in multiple spaces – Financial Services , Payments , Insurance , Lending, FMCG , Marketplaces and more for faster penetration.

Pratekk brings 18 years of multi industry experience in building a successful business from scratch with a strong focus on financial services. He has previously worked with India’s leading fintech and NBFCs including BharatPe, Bajaj Finserve, Fullerton , IndoStar Capital , and ftcash. He has recently founded, Trutes Advisors, a boutique business advisory firm, that helps Startup Founders & NBFCs with a range of operations from sharpening business models to hiring the right talent.

Commenting on the latest workforce development, Rohit Taneja, Founder & CEO, Decentro, says, “Really happy to have Pratekk joining us on this mission to help both the new age companies as well as existing financial institutions get access to banking APIs in a fully democratic way at 1/10th the cost and time as compared to the alternative. At Decentro, we really value people with entrepreneurial experiences that bring along a holistic view of the landscape. We are expanding our modular product line to provide a seamless infrastructure for co-branded cards, and embedded finance to various companies across the country.”

“I have been closely monitoring Decentro and have been fascinated by its growth in a span of just 12 months as well as its potential to bring digital transformation for financial products with lower operational expenses and faster go to market timelines. The team has a great combination of high-paced execution abilities and the product is powerful and unique in terms of its plug and play approach that I have seen first hand on the customer front. I look forward to working with the Founder’s and unlocking the immense value potential with them for their journey over the many years and decades to come across India and beyond as well,” says Pratekk Agarwaal

Decentro has grown its customer base by 5X in the past 7 months since January and its transactional volume has grown exponentially by more than 100X over the last 12 months since its first product launch in July 2020. The company is processing more than 4.5 million API hits now per month and is looking to augment its current workforce of 22, for additional positions across engineering, compliance, and bank partnerships in the current financial year.

Decentro recently announced a strategic partnership with Quickwork, bringing together two new and exciting domains, BaaS and iPaaS for the first time in India. This integration reduces manual data entry, increases productivity, and provides access to banking flows for small and non-tech companies in various processes like KYC & Onboarding, Virtual Accounts for Money Collection, Automated Payouts, Credit Bureau checks and many more.

Decentro logo
Business World, Technology

API Banking Platform Decentro hires Director of Product & expands its Advisory Council

Apr 15, 2021 by Neel Achary 0 Comments #a banking API integration platform for businesses, #Decentro, #Founder & CEO, #Rohit Taneja

Bangalore, April 14, 2021: Decentro, a banking API integration platform for businesses, onboarded Gautam Mahesh, Ex-Product Lead from InCred, as the Director of Product in April. Gautam has a strong product-focused background and has worked with Flexiloans, InCred, Klub, NBFCs and has earlier co-founded The Product Tree, a non-profit community for aspiring & veteran Product managers. Gautam will help in the development and design of the product roadmap ahead and help embed finance and lending solutions into B2B and B2C ventures.

Decentro also added Venkat Potluri to their growing advisory council to help in introducing large-scale and enterprise organizations that are keen to embed API Banking workflows. In line with the long-term thesis that “Every company will be a fintech,” Venkat will add value from his previous experiences at ZestMoney, Flipkart & Tesco, and as co-founder of Sellerworx (which was later acquired by Capillary).

Commenting on the latest workforce development, Rohit Taneja, Founder & CEO, Decentro, says, “We are happy to welcome two strong industry experts as part of our growing team. Our focus is to remove existing technological barriers and enable companies to launch banking & fintech products in weeks rather than months. And, the onboarding of Gautam and Venkat will further help us in solidifying our platform to be ready for both startups as well as enterprises.”

Rohit Taneja Venkat Potluri

“With solutions to digitize finance business processes involving customers, vendors, employees & financial institutions, Decentro is in a great place to accelerate digital transformation goals for enterprises through lower capital expense and faster go to market. It is exciting to be an enabler in this journey,” says Venkat Potluri.

Based on the current growth rate, Decentro is expecting to increase its customer base by 6-7 times, and its monthly API volume is expected to grow 20X by the end of this year. The company is looking to double its workforce for positions in engineering, compliance, and bank partnerships in the current financial year.

Decentro recently announced the launch of India’s first fintech fellowship program for developers that spans over 2.5 months. The fellowship will provide the top three individual developers or teams an opportunity to build their ideas into reality and a monthly grant INR 50K per team from the company.
About Decentro: Decentro is a full-stack API banking platform where you can come, select your desired modules, integrate in the sandbox, and launch a product with just a few lines of code in a couple of weeks! Not only that, but the platform also takes care of all upcoming fixes, iterations, and updates without breaking any flow. Decentro raised its first round of funding in May 2020, followed by this larger one in October 2020, just a few weeks out of the latest fully digital batch of Y Combinator S20. The company recently received a raise of their follow-on capital that added to their seed round of funding.