TransBnk raises $25 million from Bessemer Venture Partners, others

TransBnk, a banking infrastructure startup has raised $25 million in its Series B funding round led by Bessemer Venture Partners.

The investment came from Bessemer’s second India-focused fund, a $350 million corpus launched earlier this year.

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The funding round also saw participation from Arkam Ventures and Fundamentum Partnership as well as existing backers such as 8i Ventures, Accion Venture Labs and GMO Venture Partners.

The startup will use the new funds to expand into Southeast Asia and the Middle East, while also boosting its presence in India.

“Predominantly, the plan with this round is to expand internationally, build strong tech and product talent, and cover the net worth wherever we are becoming the tech service provider for banks. These are very large transaction banking mandates that typically require certain net worth criteria, which of course is now not a problem for us from a growth perspective,” said, Vaibhav Tambe,  cofounder of TransBnk.

"Corporate banking has lagged behind their retail counterparts, where over the past 10 years innovation in this space has allowed users to enjoy frictionless, mobile-first banking journeys. We are confident that TransBnk will bring the same transformative spirit and user delight to the corporate and transaction banking ecosystem,” said Vishal Gupta, partner at Bessemer Venture Partners.

About TransBnk 

Founded in 2022 by Vaibhav Tambe, Lavin Kotian, Pulak Jain, and Sachin Gupta, the Mumbai-based TransBnk offers an API-based platform that links corporates, fintechs, and lenders to multiple banks through one system, simplifying transactions and reconciliations without multiple portals or manual work.

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In just two years, the startup says it has achieved “double-digit million dollars” in revenue, though it hasn’t shared exact numbers.

Currently, TransBnk works with 40+ banks and serves over 220 clients. However, expanding into Southeast Asia and the Middle East will put it in competition with other Indian API banking startups already present in these regions.