Mumbai-Based Fintech Startup TransBnk Secures $4 Million in Series A Funding Led by 8i Ventures

Mumbai-based fintech startup, TransBnk, has secured $4 million in Series A funding, led by 8i Ventures, with participation from Accion Venture Lab, GMO Venture Partners, Ratio Ventures, Force Ventures, along with a group of family offices, institutions, and angel investors. This marks a significant milestone for the fintech company, which had previously raised $1 million in seed funding in June 2023.

The funds raised will be allocated towards expanding the network of banking partners, making its foray into the Middle East and Southeast Asia markets, bolstering its tech infrastructure, and enhancing its product stack. TransBnk, co-founded in 2022 by Vaibhav Tambe, Lavin Kotian, Sachin Gupta, and Pulak Jain, aims to provide deep domain expertise to ensure seamless business transactions for domestic cash management and payments, escrows, trade finance, supply chain finance, and custodial services in close collaboration with banks.

The transaction banking market is expected to hold a global market potential of $1 trillion and is projected to grow to a $2 trillion industry by 2030, as per market research. TransBnk claims to have witnessed 10X revenue growth, forged partnerships with over 25 banks, extending more than 200 APIs, while working with 100 BFSI clients. The platform also claims to have supported over 5,000 accounts, including escrows, and processed more than 50 million transactions.

TransBnk’s primary focus is to provide a robust and secure transaction banking platform for corporate, commercial, and institutional clients, while competing with other established players in the market, such as Razorpay, Cashfree Payments, Decentro, Knight Fintech, and Digio.

Key Highlights:

• TransBnk secures $4 million in Series A funding led by 8i Ventures
• Funds will be allocated towards expanding banking partners, international markets, tech infrastructure, and product stack
• Transaction banking market holds $1 trillion global market potential, expected to grow to $2 trillion by 2030
• TransBnk claims 10X revenue growth, partnered with over 25 banks, and processed over 50 million transactions