Decentro
“Can a YC-backed India BaaS aggregator graduate into a globally-licensed cross-border payments infrastructure provider on the back of a GIFT City PSP licence?”
HQBengaluru, India
Latest roundSeries A, 2022 ($4.7M)
IndustryInfrastructure / BaaS
The story
Decentro began as a Y Combinator-backed Indian fintech-as-a-service / BaaS API platform offering banking, KYC, payments, and ledger primitives to fintechs and businesses in India via partner banks (Axis, ICICI, Kotak, Yes Bank). Since 2024-2026 it has expanded internationally — adding US- and Singapore-incorporated platforms as customers and launching a global multi-currency payments product covering USD/SWIFT/ACH/FEDWIRE payouts. The 2026 IFSCA PSP licence at GIFT City positions Decentro as a cross-border payments infrastructure provider, not just a domestic India BaaS aggregator.
Product timeline
2022
Raised $4.7M Series A led by Rapyd Ventures to expand banking/payments APIs in India.· funding
2026
Received final IFSCA PSP licence at GIFT City, becoming the first Indian payment aggregator to offer cross-border payment services from GIFT City.· regulatory
Regulated entities
2
regulatory licences held by Decentro
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
7 layers disclosed in Decentro’s embedded-finance stack
Payments / PSP
Decentro Payments (self-operated)Decentro Payment Links (self-operated)Decentro UPI Collections (self-operated)Decentro ENACH V3 (self-operated)Decentro UPI Autopay (self-operated)Decentro Virtual Accounts (self-operated)Decentro Global Payouts — ACH / FEDWIRE / SWIFT (self-operated)
Banking / BaaS
in the full report
Card issuing
in the full report
Ledger
in the full report
Lending
in the full report
Sponsor bank
in the full report
FX & payouts
in the full report
Accounting gap: none
9 more providers across 6 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.