Escrowffrr, a unique, escrow focused, digital payments platform, has raised $150,000 in a pre-series investment round led by Inflection Point Ventures, the investor announced in an official release. The company was founded by Ashwin Chawwla in 2015.
The company will utilize these funds to grow its escrow business beyond real estate as a category.
In a media statement, Ashwin Chawwla, the founder and CEO of Escrowffrr said, “Every transaction today is plagued by ‘Trust Deficit’ and Escrowffrr wants to lead and act as an enabler of trust. Contract enforceability is very poor in India and as a result, transactions end up in litigation. We believe a unique solution like escrow will help in solving this pain.”
Escrowffrr is powered by leading banks like ICICI Bank and Axis Bank. Escrowffrr allows users to seamlessly set up and transact in a safe and secure manner using a convenient digital escrow account in minutes. Escrowffrr Trust Advisors/ Channel Partners which today stands at over 500. It also aims to integrate itself in the buyer decision journey by strategically aligning itself with search and discovery platforms and partners.
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