TransBnk has made a significant stride in its growth journey by successfully amassing $1m in seed funding.
Based in India, this startup is poised to disrupt the transaction banking sector with its advanced technology stack.
The funding round was spearheaded by 8i Ventures, an early-stage venture capital fund primarily focusing on Indian startups. Other key players that bolstered the round included Growthcap Ventures, Leadway Ventures LLP, and Growth Sense. In addition, a notable array of family offices, institutions, and angel investors contributed to this successful round.
The core objective of TransBnk is to address friction in the business-to-business (B2B) transactional sphere. With a cumulative experience exceeding 60 years, the team at TransBnk has developed an innovative technology stack which they aim to establish as the gold standard for frictionless B2B transactions. They have already secured strong partnerships in the private banking, non-banking financial company (NBFC), and FinTech sectors.
With the newly acquired funding, TransBnk plans to reinforce its product and technical teams, improve its technology stack, and diversify its product range. The company’s goal is to revolutionise the way specialised accounts and B2B payments are managed. These areas form the backbone of lending ecosystems, capital markets, supply chain finance, and treasury management.
Vikram Chachra, Founding Partner at 8i Ventures, applauded TransBnk’s initiative. He acknowledged the company’s potential to bridge the technological gap in India’s trillion-dollar transaction banking landscape and thereby drive significant change in this domain. Chachra’s statement highlights the alignment of this investment with 8i Venture’s dedication to back ventures that redefine the FinTech landscape.
TransBnk CEO and Co-Founder Vaibhav Tambe said, “With a cumulative 60+ years of transaction banking experience within our team, we were driven to disrupt the status quo. TransBnk’s innovative tech stack is gaining traction as the gold standard for frictionless B2B transactions, strengthening our partnerships with key players in the private banking, NBFC, and fintech sectors. With the support of 8i Ventures and our robust team of angel investors, we are thrilled to accelerate our vision.”
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