Bessemer Leads USD 25 Mn Series B Round in Fintech Startup TransBnk The Mumbai-based company plans to use the fresh capital to expand its presence across new geographies and strengthen its technology and product teams.
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Banking infrastructure platform TransBnk has secured USD 25 million in a Series B funding round.
The round was led by Bessemer Venture Partners with participation from Arkam Ventures, Fundamentum Partnership, 8i Ventures, Accion Venture Labs, and GMO Venture Partners.
The Mumbai-based company plans to use the fresh capital to expand its presence across new geographies and strengthen its technology and product teams.
Founded in 2022 by Vaibhav Tambe, Lavin Kotian, Sachin Gupta and Pulak Jain, TransBnk provides transaction banking infrastructure for banks and enterprises. Its API-led solutions support escrow management, cash flow automation and reconciliation.
The company works with banks to offer escrow-as-a-service, enabling quicker onboarding for startups, lenders and fintech players.
This funding follows a USD 4 million Series A round in August 2024, which was led by 8i Ventures. Earlier, the company had raised its seed funding in June 2023.
Since its inception, TransBnk has collaborated with multiple banks and non-banking finance companies. Its solutions are applied in areas such as lending, wealth technology and cross-border payments.
The company claims to have integrated with more than 40 banks, including private, public sector, multinational and small finance banks. It currently serves more than 220 clients who access nearly 1,500 APIs each month.
As of the previous round, 8i Ventures was the largest external stakeholder in the company with a 21.6 percent share. The three co-founders, excluding Kotian, together held more than 36 percent. The employee stock ownership pool accounts for around 10 percent while other investors such as Accion Venture, GMO Venture Partners and Ratio Ventures hold smaller stakes.
According to Entrackr, for the financial year ending March 2024, TransBnk reported revenue of INR 2.68 crore and a loss of INR 1.25 crore. The company has not yet filed its financials for FY25.
