Banking infrastructure platform TransBnk has secured USD 25 million (~INR 219 crore) in its Series B funding round, led by Bessemer Venture Partners. The round also saw participation from Arkam Ventures, Fundamentum Partnership, and existing backers 8i Ventures, Accion Venture Labs, and GMO Venture Partners.
Expansion and Strategic Focus
The Mumbai-based startup said the fresh capital will be deployed towards geographical expansion into Southeast Asia and the Middle East, while also strengthening its technology and product teams in India. A significant share of the investment will be channelled into scaling its API-led infrastructure and consolidating its domestic market presence.
Co-founder and CEO Vaibhav Tambe emphasised that the funding acts as a “massive growth catalyst,” enabling TransBnk to accelerate its global roadmap. “Our proprietary technology is already powering leading financial institutions and corporates. We are now expanding this across BFSI, mid-sized corporates, and SMEs, while setting new benchmarks in transaction banking,” Tambe said.
Company Background and Offerings
Founded in 2022 by Vaibhav Tambe, Lavin Kotian, Pulak Jain, and Sachin Gupta, TransBnk provides a single-window API platform that connects corporates, fintechs, and lenders to multiple banks. Its solutions include escrow management, cash flow automation, reconciliation, cross-border payments, and tax management.
The company partners with banks to offer escrow-as-a-service, which streamlines onboarding for startups, lenders, and fintech firms. With more than 40 integrated banking partners, including private, public sector, foreign, and small finance banks, TransBnk currently serves over 220 clients, who collectively utilise nearly 1,500 APIs every month.
Financial Performance
TransBnk has reported reaching double-digit million-dollar revenues within two years of operations, highlighting its rapid traction in the market. According to available filings, the company recorded INR 2.68 crore in revenue with a loss of INR 1.25 crore in the fiscal year ending 31 March 2024. Its financial results for FY25 are yet to be filed.
During its last round, 8i Ventures emerged as the largest external stakeholder with a 21.6% stake, while the co-founders, Tambe, Gupta, and Jain, collectively held more than 36%. The ESOP pool accounts for around 10%, with other investors such as Accion, GMO, and Ratio Ventures holding smaller stakes.
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Competitive Landscape
TransBnk operates in a growing segment where API-based infrastructure startups are reshaping how banks manage operations. Competitors include Decentro, a full-stack API banking platform, Setu (acquired by Pine Labs), and M2P Fintech, which focuses on middleware banking solutions. Internationally, it competes with players such as Tazapay and Escrowpay in the transaction banking domain.
The company believes it is strategically placed to capture opportunities, particularly as banks move away from legacy, capex-heavy software stacks to modular SaaS-based systems. “Banks are moving away from costly, monolithic systems that take years to implement. SaaS fintechs like ours offer faster deployment at a fraction of the cost,” the company noted in a statement.
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Looking Ahead
With this latest round of funding, TransBnk is positioning itself to emerge as a global leader in transaction banking infrastructure, balancing international expansion with domestic consolidation. Backers such as Bessemer are confident in the company’s trajectory. “Their deep industry expertise makes them best placed to disrupt corporate banking in India and beyond, bringing transformative solutions to a fragmented ecosystem,” said Vishal Gupta, Partner at Bessemer Venture Partners.
As retail payments continue to evolve rapidly, TransBnk aims to power the next generation of global transaction banking, enabling corporates and banks to achieve efficiency, compliance, and seamless connectivity in an increasingly digital-first economy. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription, stay tuned to IPO Central.