NEW DELHI: Escrowpay, which offers digital escrow platforms, has raised $6 million in fresh funding from existing investors. The latest funding is through the series-A round and is part of the ongoing round targeting $15 million. The company recently secured the first digital escrow regulatory fintech authorisation from the IFSCA in the Gift City.
Currently it serves over 3,000 clients, including SMEs, unicorns, listed enterprises, and emerging digital-first businesses.
Escrowpay has processed transactions exceeding Rs 15,000 crore.
The fresh capital injection will be strategically utilised to accelerate its initiatives, support key growth areas, and foster innovation within the payments ecosystem, its MD Ashwin Chawwla said in a statement on Wednesday.