- TransBnk secured USD 25M Series B funding led by Bessemer, with participation from Arkam, Fundamentum, 8i Ventures, Accion, and GMO.
- Founded in 2022, TransBnk builds a consolidated transaction banking platform for corporates, addressing India’s manual processes and fragmented systems.
- The startup plans regional expansion into Southeast Asia and the Middle East while targeting real estate, pharma, and renewable energy sectors.
TransBnk
India’s banking infrastructure startup, TransBnk raised USD 25 million in a Series B funding round led by Bessemer Venture Partners. It also saw participation from Arkam Ventures, Fundamentum Partnership, 8i Ventures, Accion, and Japan’s GMO Venture Partners.
Founded in 2022, Vaibhav Tambe, Lavin Kotian, Pulak Jain and Sachin Gupta, TransBnk is a banking infrastructure startup. It is a transaction banking platform that enables corporate, commercial and institutional clients to make agile and secure transactions with embedded finance and SaaS.
Transaction Banking
The startup is aiming to tackle a challenge in India surrounding transaction banking still relying on manual processes. This is despite India having a boom in consumer fintech and being one of the world’s largest SME markets. Thus, with its nearly 75 million SMEs, the country would greatly benefit from more modern financial infrastructure.
“During our banking days, we always got a lot of customers asking us for a single, consolidated platform for transaction banking or corporate banking on a single particular stack. And we thought, let’s take up this challenge … The idea was that can we consolidate and integrate with multiple banks and then create a single platform, be it in the form factors, like the web interface or mobile app, or maybe SDKs, or API?” said Vaibhav Tambe, co-founder and CEO
Up next, TransBnk aims to expand beyond India into Southeast Asia and the Middle East. It also aims to continue to build its infrastructure platform layer. Additionally, it intends to expand its reach to sectors such as real estate, pharma, and renewable energy.
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