Castler

• Banks are converting less than 50% of the leads
• Poor Contract enforcement & Commercial dispute resolution. India ranks at the 163rd position globally
• It takes an average of 1,445 days to resolve a commercial dispute in India
• Average claim value is only 31%
• India ranks at a poor 68th spot in “trading across the border”
• 49% of businesses have encountered frauds in their lifetime
• Every fraudulent transaction causes an avg. 3.4X in total realised losses including arbitration etc.
• Regulators in India are ensuring key industries like lending, fund raising, payment aggregators, real estate, insurance, e-commerce etc. are using escrows
• 680% increase in payments fraud between 2013 to 2018
• Around $17 Billion Lost in the last 12 months due to Fraud

Around 1 lakh companies in India use escrow accounts, according to industry estimates. Escrow deposits worldwide are worth $100Bn, and the market is poised to grow to $260Bn by 2030.

Castler is a pioneer in the field of Digital Escrow in India. Founded by Vineet Singh and Dinesh Kumar, both startup veterans, in 2021, the company endeavors to build a transaction banking-focused escrow banking solution for enterprises for both domestic and cross-border transactions. It also wants to democratize the escrow product for mass adoption amongst consumers and MSMEs to eliminate fraud.