WestBridge Capital has invested in the reg-tech company TSS Consultancy at a valuation of INR 900 crore.
This is the company’s first round of funding, and the money will be used for research and development, particularly in the area of artificial intelligence, as well as to scale SaaS offerings and introduce additional products in specialized fields of financial crime.
“As India walks towards becoming a five trillion economy, the government has been proactive about uprooting unlawful financial activities from our systems. We believe protecting our financial systems and complying with the law of the land is crucial. Our mission is to help every financial institution and empower financial soldiers to fight financial crime with cutting edge technology and data intelligence with reasonable investments in the area of money laundering, KYC, Terrorist financing and Insider Trading,” said Sagar Tanna, founder and CEO, TSS Consultancy.
The technology platform TrackWizz from TSS Consultancy aids financial institutions in the battle against financial crime, particularly money laundering and surveillance.
“We are excited to partner with Trackwizz as they expand their market leadership by enhancing their suite of robust and innovative products in a fast-growing compliance market, a top-of-mind space for both financial institutions and governments globally,” said Deepak Ramineedi, partner at WestBridge Capital.
TSS Consultancy has its main office in Mumbai and was started in 2008 by Sagar, Sameer, and Chandrakant Tanna.
Trackwizz Consultancy is a rapidly expanding provider of technological solutions for the financial sector. There team is made up of highly driven people with a variety of skill sets who are passionate about employing the most cutting-edge technology to develop unique products for their customers, which include banks, stock exchanges, stock brokers, and other financial organizations. TSS is renowned for developing reasonably priced products that assist in gaining total control over back office and middle office-related tasks as well as critically important compliance-related areas including adherence to rules by SEBI, RBI, and other statutory authorities like NSE, BSE, etc.