TransBnk Raises $1 Million Seed Funding The fresh infusion of capital will enable TransBnk to bolster its product and technical teams, enhance its tech stack, and expand its product line
By Teena Jose
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Fintech startup TransBnk has raised $1 million Seed funding led by 8i Ventures, the early stage India-focused VC fund , including M2P, Slice and Easebuzz amongst others. Other contributors to the round included Growthcap Ventures , Leadway Ventures LLP, and Growth Sense, along with a prominent group of family offices, institutions, and angel investors. The fresh infusion of capital will enable TransBnk to bolster its product and technical teams, enhance its tech stack, and expand its product line.
"With a cumulative of over 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," said Vaibhav Tambe, CEO and co-founder, TransBnk.
According to the company, it aims to reshape the management of specialized accounts and B2B payments, which are the foundation of lending ecosystems, capital markets, supply chain finance, and treasury management. It also claimed that positioning itself as the go-to solution for banks, NBFCs, and emerging fintech entities navigating complex, multi-party transactions such as digital escrows, TransBnk's technology platform has already been embraced by major banks and lenders for managing capital flows in co-lending, lease rental discounting, and more.
"TransBnk is filling a crucial gap between the technology 'haves' and 'have-nots' in India's trillion-dollar transaction banking landscape. By providing a disruptive solution to the financial ecosystem, they are strategically positioned to bring about a seismic shift in transaction banking. This investment aligns with our commitment to support ventures that redefine the fintech landscape," said Vikram Chachra, founding partner, 8i Ventures.
