BENGALURU: After PhonePe and Razorpay, now Decentro, the API banking platform, will shift its parent entity from Singapore to India over the next 12-18 months. The decision reflects a broader trend of Indian fintech companies choosing to domicile in India.
"This flip is a strong statement of our commitment to India and our belief in its capacity to foster and scale global financial infrastructure companies. We are building not just for India, but from India for global opportunities,” said Pratik Daudkhane, Co-founder of Decentro.
Fintech start-up Decentro, which handles over Rs 50,000 crore in annual payment volumes, on Friday announced that it has raised Rs 30 crore in its Series B funding round. So far, the company has raised a total of 8.19 million dollars.
The round was led by InfoEdge Ventures, with participation from Stargazer Growth—backed by Groww CEO Lalit Keshre—and existing investors including Uncorrelated Ventures. The funding comes at a time when Decentro has turned profitable.
The company said it will use the fresh capital to drive enterprise adoption, improve its product capabilities, and strengthen go-to-market efforts across financial institutions such as banks, NBFCs, fintech firms, and digital lenders.
“This fund raise allows us to double down on what’s working well; deep partnerships with enterprise customers and building products that power mission-critical financial flows. India is where it all started, and we want to make this our long-term base with the eventual flip,” said Rohit Taneja, Co-founder & CEO of Decentro.
Decentro’s plans come at a time when Indian fintechs are increasingly choosing to base themselves in India. Recently, unicorn Razorpay moved its domicile from the US to India and will pay about Rs 1,275 crore in taxes. The company is aiming for an IPO before the end of the calendar year 2026. In 2022, another fintech player, PhonePe, also shifted its base from Singapore to India, with its investors paying Rs 8,000 crore in taxes to complete the move.