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Rapyd Ventures backs Indian fintech-as-a-service startup Decentro • TechCrunch

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India’s Decentro, the Y Combinator-backed startup that helps companies enter the fintech market by deploying its APIs, has raised $4.7 million in a Series A round.

The Bengaluru-based startup offers banking and payments APIs that allow development of fintech products such as banking, payment cards, neobanking and collections and payout services in a short period of time. Decentro has partnered with scores of industry players including Axis Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, Visa, RuPay, Quickwork, Equifax, Aadhaar and National Securities Depository Limited (NSDL) to offer solutions for prepaid payment instruments, no-code workflows, conversational banking via WhatsApp and enable document verification and KYC process.

“Whenever a fintech startup or a company wants to launch a new product in the market, it takes them a minimum of a few months to launch. And it purely has to do with the bank processes, the way the bank runs the process, as well as the tech of the bank. It’s not so great. That’s essentially the problem we are solving,” said Rohit Taneja,…

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