Mumbai-based fintech startup TransBnk has successfully raised $4 million in a Series A funding round led by 8i Ventures. The round saw participation from Accion Venture Lab, GMO Venture Partners, Ratio Ventures, and Force Ventures, along with contributions from several family offices, institutions, and angel investors.
This marks the startup’s second major funding milestone, following a $1 million seed round led by 8i Ventures in June 2023. According to a press release, the new capital will be utilized to expand TransBnk’s banking partner network, enter new markets in the Middle East and Southeast Asia, strengthen its tech infrastructure, and enhance its product offerings.
Founded in 2022 by Vaibhav Tambe, Lavin Kotian, Sachin Gupta, and Pulak Jain, TransBnk is a transaction banking platform that provides corporate, commercial, and institutional clients with a secure and efficient way to manage transactions. The platform leverages embedded finance and SaaS to support cash management, escrows, trade finance, supply chain finance, and custodial services in partnership with banks.
The transaction banking industry, which currently holds a $1 trillion global market potential, is projected to reach $2 trillion by 2030, according to market research. TransBnk has capitalized on this growth, experiencing a 10X increase in revenue, partnering with over 25 banks, and providing more than 200 APIs. The platform has also supported over 5,000 accounts, including escrows, and processed over 50 million transactions to date.
As TransBnk expands, it will face competition from other fintech companies such as Razorpay, Cashfree Payments, Decentro, Knight Fintech, and Digio. However, with its rapid growth and deep domain expertise, the company aims to remain a key player in the evolving fintech landscape.
