TransBnk, a Mumbai, India-based transaction banking platform, raised $4M in Series A funding.
The round was led by 8i Ventures and Accion Venture Lab, with participation from GMO Venture Partners, Ratio Ventures, Force Ventures along with a group of family offices, institutions, and angel investors.
The company intends to use the funds to expand the network of banking partners, while also pursuing global expansion plans with a focus on Middle East and South East Asia markets.
Led by CEO Vaibhav Tambe, TransBnk enables corporates, commercial & institutional clients to make agile, and secure transactions with embedded finance & SaaS. In the span of only 20 months, the company has forged partnerships with over 25 banks, extending more than 200 APIs, while working with 100 BFSI clients. The platform has supported over 5000 accounts including escrows and processed more than 50 million transactions. This has made TransBnk the preferred solution for NBFCs, Micro Finance Institutions, banks, and fintech handling complex transactions like Treasury Management, co-lending, supply chain finance, and Cash flow based lending use cases.
Launched in 2022, the solution has already supported over 5000 accounts including escrows and processed more than 50 million transactions.
FinSMEs
21/08/2024