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Escrowffrr raises $150,000 from Inflection Point Ventures in Pre-Series round

The company currently is focused on real estate and plans to utilize the funds raised through IP Ventures to grow their escrow business beyond real estate as a category, the investor said in a release.

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Last Updated: Jan 09, 2020, 04.55 PM IST
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IP Ventures was founded in 2017 by CFOs and finance professionals who come from the start-up ecosystem, either as co-founders or by leading their organisations through various stages of funding.
MUMBAI: Angel investment firm Inflection Point Ventures (IPV) has invested $150,000 in an investment round for Escrowffrr, an early stage venture focussing on escrow services and digital payments platform.

The company currently is focused on real estate and plans to utilize the funds raised through IP Ventures to grow their escrow business beyond real estate as a category, the investor said in a release.

Owned and operated by Trustmore Technologies, Escrowffrr platform is supported by banks like ICICI Bank and Axis Bank. It allows users to set up and transact in a secure manner using a digital escrow account.

“Escrowffrr helps address the vital element of creating a platform of trust for concluding the transaction, which is a real need today, especially in real-estate transactions. The risks perceived around safety of advance payments and original documents are eliminated,” said Sanjay Malhotra, an IP Ventures investor member.

Currently focused in Delhi-NCR, Escrowffrr seeks to soon expand to the top 7 cities in India. With a focused B2B2C go to market strategy the company plans to build its own network of Escrowffrr trust advisors and channel partners that currently stands at over 500.

“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,” said Ashwin Chawwla, founder & CEO, Escrowffrr.

IP Ventures was founded in 2017 by CFOs and finance professionals who come from the start-up ecosystem, either as co-founders or by leading their organizations through various stages of funding.

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