Castler, a digital escrow platform, has appointed Kumar Amit, the former VP of Business Development at Razorpay, as Co-founder and Chief Operating Officer (COO). Amit, has over 20 years of work experience and will be responsible for Growth, Marketing, Operations, and Compliance at Castler.
Amit also led Razorpay at various forums, including the Digital India Mission, Niti Aayog, MieTy, PMO, Delhi School of Economics, and Singapore Fintech Festival.
"As Castler crosses the Zero-To-One stage and enters the 1X-to-100X stage, it was important for us to consolidate our management bandwidth with the highest quality leaders. Amit has been one of the best operators in the Fintech space over the last 10 years and played a massive role in Razorpay's growth. Amit's extensive experience in enterprise business and working with regulators and government bodies will enable Castler to reach new heights. His diverse experience across the fintech space will play a vital role in Castler's growth journey to 100X scale while building the rails of good governance with responsible growth at Castler." said Vineet Singh, Founder and CEO of Castler.
Castler has recorded an over 300x increase in GTV (gross transaction value) in less than two years since its inception. In July 2021, the company's GTV stood at Rs 15 crore and has since surged to Rs 5,000 crores as of March 2023. The 2-year-old company is developing a unique multi-bank architecture and is presently collaborating with nine banks, with plans to expand to around 25 banks within the next 18 months.
Speaking on his appointment as Co-founder and COO, Castler, Kumar Amit said, "I am thrilled to join Castler and be a part of its pioneering efforts to bring transparency and trust to the digital economy through its innovative escrow banking solutions and other products. With new regulations and increasing demand for seamless and secure transactions, Castler is poised for tremendous growth, and I am excited to be a part of this journey. I look forward to working with the team to scale the business, drive innovation, and build strong partnerships with clients and stakeholders."