TransBnk, a fintech business based in Mumbai, has successfully secured $4 million in its Series A fundraising round. The funding was primarily spearheaded by 8i Ventures.
The funding round also included contributions from Accion Venture Lab, GMO Venture Partners, Ratio Ventures, and Force Ventures, as well as a consortium of family offices, institutions, and angel investors.
The funds raised will be used to grow their network of banking partners, enter markets in the Middle East and Southeast Asia, strengthen their technological infrastructure, and improve their range of products.
TransBnk is a transaction banking platform that allows corporate, commercial, and institutional clients to conduct agile, safe, and reliable transactions using embedded finance and Software-as-a-Service (SaaS). The objective is to offer extensive knowledge in a certain field to guarantee smooth business transactions for domestic cash management and payments, escrows, trade finance, supply chain finance, and custodial services through close cooperation with banks.
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TransBnk asserts that it has had a tenfold increase in income, established collaborations with over 25 Banks, expanded its range of application programming interfaces (APIs) to more than 200, and served 100 clients in the banking, financial services, and insurance (BFSI) sector. The site asserts that it has provided assistance to over 5,000 accounts, including escrows, and has facilitated the processing of more than 50 million transactions.
About TransBnk
Founded in 2022 by Vaibhav Tambe, Lavin Kotian, Sachin Gupta, and Pulak Jain, ‘TransBnk’ is a Transaction Banking Platform enabling Corporate, Commercial & Institutional clients to make agile, secure & robust Transactions with Embedded Finance & SaaS.
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