IBSFINtech Raises $1 Mn Pre-Series A Round

IBSFINtech will use the funds to launch the SaaS TMS in the domestic market and boost its global growth plans

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Bengaluru-based IBSFINtech India Private Limited (IBSFINtech), a platform in Treasury, Risk & Trade Finance Management® (TRTFM®) solutions in India, on Wednesday announced to have secured about $1 million in a pre-Series A round led by successful HNI professionals. The financing round was led by a group of highly successful professionals, including Prem Rajani (Rajani Associates), N Jayakumar, and Akshay Gupta (Prime Securities). Prime Securities Limited was the exclusive Investment Banker to this transaction and shall continue the partnership for raising the next funding rounds.

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IBSFINtech will use the funds to launch the SaaS TMS (Treasury Management solution) in the domestic market and boost its global growth plans.

 “We are humbled to onboard such a prestigious and credible investor base. We are proud that IBSFINtech is disrupting the niche Corporate Treasury and Trade Finance ecosystem, and there is a massive white space opportunity in this segment.  This funding provides the necessary impetus to expand our playing field with our newly launched SaaS TMS. It will accelerate our global growth plans and bolster technology to deliver the most comprehensive, decision-making platform for business leaders across industries. Our vision is to make treasury automation solutions accessible to all sizes of corporations with a view to creating substantial economic value for all the stakeholders,” said CM Grover, managing director, and chief executive officer, IBSFINtech.

Founded by ex-bankers, IBSFINtech’s integrated TRTFM® solution fills a tremendous gap in the industry, wherein even today, the complex and critical corporate treasury functions are predominantly driven by spreadsheets. Over the years, the sector has witnessed monumental visibility among CxOs in terms of scope and demand due to technological innovations, globalization, and growing regulatory requirements. Pandemic-led digitization has further augmented the end-to-end treasury automation mandates amongst the corporations, the company said.

 “Market research shows the CxOs are still dependent on non-system driven reports for managing large treasury flows. There has been a constant shift towards system-driven decision-making. IBSFINtech through its SaaS and on-premises modules is well-positioned to provide secured, end-to-end, integrated, seamless, automated experience of corporate treasury operations. With ecosystem partnerships like Refinitiv and Oracle, the company can reach a wide network of large, medium, and small enterprises,” added N Jayakumar, managing director, Prime Securities.

The solution developed by this home-grown company, IBSFINtech, enables CxOs and treasurers to strengthen the heart of a corporate, the Treasury & Trade finance function, by enhancing visibility, improving control, mitigate operational risk, drive automation and optimize business efficiency. Moreover, there is an existing gap in this industry segment for a niche SaaS TMS product that is cost-effective, multi-entity, multi-currency, multi-asset-class-enabled integrated, and comprehensive treasury solution.

IBSFINtech has recently launched SaaS TMS, InTReaX™ in partnership with Refinitiv (Erstwhile Thomson Reuters), now a London Stock Exchange Group (LSEG) company for the mid and emerging corporations of the country.