[Funding alert] TransBnk Secures $1Mn seed funding from 8i Ventures

Fintech startup TransBnk has secured $1 mn in seed funding. The round was led by 8i Ventures, the early-stage India-focused VC fund, including M2P, Slice, Easebuzz, and others.

A prestigious group of family offices, institutions, and angel investors joined Growthcap Ventures, Leadway Ventures LLP, and Growth Sense in contributing to the round, as per reported by ET Retail.

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“With a cumulative 60+ years of transaction banking experience within our team, we were driven to disrupt the status quo. With the support of 8i Ventures and our robust team of angel investors, we are thrilled to accelerate our vision.” said Vaibhav Tambe, CEO and Co-Founder of TransBnk.

TransBnk plans to increase the number of its clients and partner banks by 2.5 to 3 times by March 2024, using the seed capital as a stimulus for its development.

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TransBnk has connections with over 10 prominent private banks and serves over 50 corporate, institutional, and fintech clients.

“TransBnk is filling a crucial gap between the technology ‘haves’ and ‘have-nots’ in India’s trillion-dollar transaction banking landscape. By providing a disruptive solution to the financial ecosystem, they are strategically positioned to bring about a seismic shift in transaction banking. This investment aligns with our commitment to support ventures that redefine the fintech landscape.” commented Vikram Chachra, Founding Partner, 8i Ventures.

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About TransBnk

‘TransBnk‘ is a Transaction Banking Platform enabling Corporate, Commercial & Institutional clients to make agile, secure & robust Transactions with Embedded Finance & SaaS.