International Fintech Company, TransBnk, Secures $25 Million in Series B Funding for Global Expansion and Internal Team Strengthening
Mumbai-based banking infrastructure platform TransBnk has announced the successful completion of a $25 million Series B funding round. The funding round was led by Bessemer Venture Partners, with participation from several notable investors including Arkam Ventures, Fundamentum Partnership, Accion Venture Labs, GMO Venture Partners, and venture capital firm 8i Ventures.
TransBnk, which already serves over 220 clients, plans to utilise the funds to expand its operations internationally. The company aims to bolster its technology and product development teams, and also intends to use the funds for strategic partnerships and market expansions.
TransBnk offers API-driven solutions for escrow management, cash flow automation, and reconciliation. Each client accesses approximately 1,500 APIs monthly through TransBnk, demonstrating the platform's extensive capabilities.
The funding round was also participated by 8i Ventures, who had previously led TransBnk's $4 million Series A round in August 2024. This continued support from 8i Ventures underscores their confidence in TransBnk's growth potential.
It's worth noting that TransBnk has already integrated with over 40 banks, providing a robust network for its clients. The company has been successful in establishing itself as a reliable player in the banking infrastructure sector.
The funding round and TransBnk's growth have been reported by Entrepreneur India. The news comes at an exciting time for the company, as it continues to expand its reach and offer innovative solutions in the banking sector.
With the funds raised, TransBnk plans to launch its app in the US market, build strategic partnerships such as a 5-year cooperation with Mastercard North America, and strengthen its technology and product development teams to support tailored SME banking apps and embedded finance strategies for partner banks in the US and Europe.
TransBnk's success story is a testament to the potential of Indian startups in the fintech sector. The company's focus on API-driven solutions and its robust network of integrated banks position it well for continued growth and success in the future.
