TRANSBNK Secures $25 Million in Series B Funding
TRANSBNK, an innovative banking infrastructure platform, has successfully raised $25 million in its Series B financing round. This significant funding will enable the company to expand its geographical footprint and enhance its technology and product offerings.
Leading Participants and Future Plans
The funding round was spearheaded by Bessemer Venture Partners, with notable participation from Arkam Ventures, Funderatum Partnership, 8i Ventures, Acion Venture Labs, and GMO Venture Partners. With these investments, TRANSBNK aims to broaden its market presence and continue developing advanced solutions for its clients.
Company Background and Founders
Founded in 2022 by a dynamic team comprising Vaibhav Tambe, Lavin Kotian, Sachin Gupta, and Pulak Jain, TRANSBNK specializes in providing a comprehensive banking transaction infrastructure tailored for banks and businesses. Their API-driven solutions facilitate the management, automation of cash flows, and reconciliation.
Innovative Solutions for Financial Institutions
TRANSBNK’s services offer “receiver as a service,” allowing banks, startups, and fintech entities to integrate their systems rapidly. This unique approach positions TRANSBNK as a pivotal player in the financial technology landscape, helping clients streamline their banking processes.
Previous Funding Rounds and Collaborations
This recent funding follows a prior investment of $4 million secured in August 2024, also led by 8i Ventures. The company initially raised its seed capital in June 2023. Since its inception, TRANSBNK has partnered with several non-banking financial institutions, applying its solutions across various sectors, including loans, wealth technology, and cross-border payments.
Client Base and Partner Integration
TRANSBNK proudly reports integration with over 40 financial institutions, encompassing private, public, multinational banks, and smaller finance entities. Currently, the company caters to more than 220 clients, who together leverage nearly 1,500 APIs each month for their operational needs.
Financial Performance and Future Outlook
According to recent reports by Entrackr, for the financial year ending in March 2024, TRANSBNK reported a turnover of ₹2.68 crores and a loss of ₹1.25 crores. The firm has not yet disclosed its financial performance for the subsequent fiscal year but remains optimistic about its growth trajectory.
Conclusion
With substantial financial backing and a proven business model, TRANSBNK is well-positioned to innovate the banking infrastructure sector. By continuously enhancing its services and fostering partnerships, the company aims to lead the way in transforming how banks and businesses operate in the digital age.