Escrowpay, the trailblazing digital escrow platform, recently secured a noteworthy regulatory nod from IFSCA, positioning itself as the first fintech entity to offer regulated digital escrow services. Riding on the back of this significant endorsement, the company has announced its intent to issue an extra $4 million in warrants, bringing its total fundraising endeavors to a commendable $6 million.
This latest regulatory green light empowers the firm to delve into international waters, offering transactions in a vast array of 14 global currencies. Such a move holds particular promise for small to medium-sized enterprises (SMEs) in India, opening avenues for enhanced financial services. “This newly-acquired authorization is more than just a feather in our cap. It’s an acknowledgment of the tireless commitment of our team, unwavering trust of our banking partners, and the invaluable patronage of our clientele. We’re poised and ready to facilitate multi-currency transactions on a grand scale,” stated Ashwin Chawwla, the esteemed co-founder and managing director of Escrowpay.
The company’s growth trajectory has garnered support from influential investors, including entities like Tano India Opportunities Fund, Zenith Global Group, We Founder Circle, JB Ventures, AngelList, Inflection Point Ventures, and Chhattisgarh Investments. Mirroring the global aspirations akin to UPI, Escrowpay is geared up for international expansion. With a keen focus on cross-border transactions, the firm eyes potential establishments in lucrative markets, notably the UAE.
Launched in 2015 by industry stalwarts Ashwin Chawla and Saurabh Kumar Neogi, Escrowpay has consistently delivered on its promise of providing secure, transparent, and streamlined digital escrow services. The platform, recognized for its excellence in escrow and settlements, holds its core values dear, emphasizing stakeholder value, innovative breakthroughs, client contentment, robust brand identity, and an enriching work atmosphere for its talented team.
