TransBnk Raises $25 Million in Series B Fundraise
TransBnk, a banking infrastructure platform, has successfully secured $25 million in its Series B fundraising round, spearheaded by Bessemer Venture Partners. The round saw contributions from Arkam Ventures, Fundamentum Partnership, 8i Ventures, Accion Venture Labs, and GMO Venture Partners. The capital raised will mainly support geographic expansion and enhance technological and product talent.
Co-founded in 2022 by Vaibhav Tambe, Lavin Kotian, Sachin Gupta, and Pulak Jain, TransBnk delivers transaction banking infrastructure tailored for banks and enterprises. Its API-driven solutions aid businesses in managing escrow, automating cash flow, and simplifying reconciliation processes. TransBnk collaborates with banks to provide escrow-as-a-service, facilitating quicker onboarding for startups, lenders, and fintech companies.
In August 2024, TransBnk completed its Series A funding round, securing $4 million, led by 8i Ventures and backed by Accion Venture Lab, GMO Venture Partners, Ratio Ventures, Force Ventures, among others. The company had earlier obtained a seed round in June 2023.
Since its inception, TransBnk has been actively engaging multiple banks and non-banking financial companies (NBFCs), enabling various use cases in lending, wealth technology, and cross-border transactions. The firm has claimed integration with over 40 banks, encompassing prominent private and public sector institutions, multinational banks, along with smaller finance entities. Currently, it serves more than 220 clients who access nearly 1,500 APIs monthly.
Following the latest funding round, 8i Ventures emerged as the largest external stakeholder in TransBnk, holding 21.6%. Co-founders Vaibhav Tambe, Sachin Gupta, and Pulak Jain collectively possess over 36%. Reports from startup data intelligence platforms indicate that the ESOP pool comprises around 10%, while Accion Venture, GMO Venture Partners, Ratio Venture, and others maintain smaller stakes.
For the fiscal year ending in March 2024, TransBnk recorded revenue of Rs 2.68 crore, alongside a loss of Rs 1.25 crore. The company has yet to submit its annual report for fiscal year 2025.
