TransBnk Secures USD 4 Mn in Series A Funding Led by 8i Ventures, Eyes Global Expansion TransBnk will use its recent funding to expand into the Middle East and Southeast Asia, strengthen its banking network, enhance its tech infrastructure, and improve its product offerings.
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TransBnk, a Mumbai-based transaction banking platform, has raised USD 4 million in Series A funding led by 8i Ventures, with Accion Venture Lab, GMO Venture Partners, Ratio Ventures, Force Ventures, and other investors also participating.
With the newly acquired funds, TransBnk plans to broaden its network of banking partners and pursue global expansion, particularly targeting the Middle East and Southeast Asia markets. Additionally, the funds will be used to strengthen the company's tech infrastructure and enhance its product offerings.
Incepted in 2022 by Vaibhav Tambe, TransBnk enables corporate, commercial, and institutional clients to execute agile, secure, and robust transactions through embedded finance and SaaS solutions.
Over the past 20 months, TransBnk claims to have forged partnerships with over 25 banks, extending more than 200 APIs while serving 100 BFSI clients. The platform has supported over 5,000 accounts, including escrows, and processed more than 50 million transactions.
This impressive growth has established TransBnk as the go-to solution for NBFCs, microfinance institutions, banks, and fintech companies handling complex transactions such as treasury management, co-lending, supply chain finance, and cash flow-based lending.
Vaibhav Tambe, CEO and Co-Founder of TransBnk, said, "We are elated with this fund-raise, which underscores investors' confidence in our vision, team, and ability to operate in a competitive environment. With the support of 8i Ventures, Accion Venture Lab, GMO Venture Partners, Ratio Ventures, and our robust team of senior ex-bankers and NBFC officials, we will continue building stronger partnerships, driving success together."
By providing the infrastructure that enables incumbent and new-age BFSI players to build new use cases for lending, payments, and onboarding, TransBnk is offering an API-led upgrade to existing financial services infrastructure, making it more scalable, robust, and compliant.
Vikram Chachra, Founding Partner at 8i Ventures, stated, "TransBnk is revolutionising India's trillion-dollar transaction banking sector by empowering banks to offer advanced transaction services, bridging the technology gap. Their innovative approach is set to reshape the financial landscape."
Rahil Rangwala, Managing Partner at Accion Venture Lab, highlighted the platform's potential to improve financial access, particularly for micro and small entrepreneurs. He stated, "With strong revenue growth, TransBnk has proven that its transaction banking model can make these transactions easier, increasing access. The company is in an excellent position to expand their model internationally with this raise, enabling it to reach more underserved entrepreneurs."
