Decentro, a leading API banking platform, has appointed Pratekk Agarwaal as an advisor to its council members. As a part of this appointment, he will be supporting Decentro with strategic advice on expanding alliances with fintech, banks, NBFCs, and insurtech companies that are looking to embed API Banking workflows. He is also an angel investor at Decentro and will help them with his deep network in multiple spaces – Financial Services, Payments, Insurance, Lending, FMCG, Marketplaces, and more for faster penetration.
Pratekk holds 18 years of multi-industry experience with a strong focus on financial services. Earlier, he worked with companies namely BharatPe, Bajaj Finserve, Fullerton, IndoStar Capital, and ftcash. He has recently founded, Trutes Advisors, a boutique business advisory firm, that helps Startup Founders & NBFCs with a range of operations from sharpening business models to hiring the right talent.
Rohit Taneja, Founder & CEO, Decentro, says, “Really happy to have Pratekk joining us on this mission to help both the new-age companies as well as existing financial institutions get access to banking APIs in a fully democratic way at 1/10th the cost and time as compared to the alternative. At Decentro, we really value people with entrepreneurial experiences that bring along a holistic view of the landscape. We are expanding our modular product line to provide a seamless infrastructure for co-branded cards, and embedded finance to various companies across the country.”
“I have been closely monitoring Decentro and have been fascinated by its growth in a span of just 12 months as well as its potential to bring digital transformation for financial products with lower operational expenses and faster go to market timelines. The team has a great combination of high-paced execution abilities and the product is powerful and unique in terms of its plug-and-play approach that I have seen firsthand on the customer front. I look forward to working with the Founder’s and unlocking the immense value potential with them for their journey over the many years and decades to come across India and beyond as well,” says Pratekk Agarwaal
Decentro reported 5X growth in its customer base in the past 7 months since January and its transactional volume grew by more than 100X over the last 12 months since its first product launch in July 2020.
It raised its first round of funding in May 2020, followed by this larger one in October 2020, just a few weeks out of the latest fully digital batch of Y Combinator S20. The company recently received a raise of their follow-on capital that added to their seed round of funding.