Gurugram, Oct 28: Escrowpay, a leading innovator in the Escrow Banking, Fintech industry, is delighted to announced on Thursday a significant achievement in its pursuit for excellence.
The company has been granted the first digital escrow regulatory fintech authorization from IFSCA, Gift City, marking a major milestone in its commitment to compliance and innovation in digital payments.
The Digital Escrow Regulatory Authorization is a testament to Escrowpay’s unwavering dedication to providing secure and efficient financial solutions to 70 mn SMEs in India.
The authorization will position Escrowpay as a responsible and trusted player with regulatory oversight in the fintech sector.
Recognized for its innovative digital escrow solutions, Escrowpay was recently awarded the ‘Best Escrow Platform Asia 2023’ by Global Financial Markets, UK.
It provides digital escrow services to 3000+ clients including MSMEs, unicorns, listed enterprises, and emerging digital first businesses across India, and has processed transactions in excess of INR 15,000 crores.
Ashwin Chawwla, Managing Director, Escrowpay, said, “We are thrilled to receive the Regulatory Fintech Authorization from IFSCA.
We are India’s first digital escrow platform and are now the first to be authorized too. We look forward to continuing our mission to make escrow banking more accessible, affordable and secure for all users.
The board of the company has also approved to sign a definitive agreement for issuing warrants for up to US $ 4 mn thus taking the total capital raised till date to cross $ 6 mn.
Escrowpay is a cutting-edge fintech company at the forefront of digital escrow services specialising in providing secure, transparent, and efficient escrow solutions for a wide range of industries and transactions.
