TransBnk Secures $25M to Scale API-Led Banking Solutions

Banking infrastructure platform TransBnk has raised $25 million in its Series B Fundraise led by Bessemer Venture Partners with participation from Arkam Ventures, Fundamentum Partnership, 8i Ventures, Accion Venture Labs, and GMO Venture Partners.

The funds will primarily be used for geographical expansion and bolstering tech and product talent.

Co-founded in 2022 by Vaibhav Tambe, Lavin Kotian, Sachin Gupta, and Pulak Jain, TransBnk provides transaction banking infrastructure for banks and enterprises. Its API-led solutions help businesses with escrow management, cash flow automation, and reconciliation. The company partners with banks to offer escrow-as-a-service, enabling faster onboarding for startups, lenders, and fintechs.

The company raised its Series A round worth $4 million in August 2024, led by 8i Ventures with participation from Accion Venture Lab, GMO Venture Partners, Ratio Ventures, Force Ventures, and others. Prior to that, it had secured a seed round in June 2023.

Since its launch, TransBnk has been working with multiple banks and NBFCs, powering use-cases in lending, wealth-tech, and cross-border payments.

The company claims to have integrated with more than 40 banks, which include leading private and public sector players, MNC Banks as well as small finance banks. 

It has more than 220 clients accessing nearly 1,500 APIs on a monthly basis.

As of the last funding round, 8i Ventures was the largest external stakeholder in TransBnk with 21.6%, while co-founders Vaibhav Tambe, Sachin Gupta and Pulak Jain together held over 36%. According to startup data intelligence platform TheKredible, the ESOP pool accounts for about 10%, while Accion Venture, GMO Venture Partners, Ratio Venture and a few others own smaller stakes.

For the fiscal year ended in March 2024, TransBnk reported Rs 2.68 crore in revenue with a loss of Rs 1.25 crore. The company has yet to file its annual report for FY25.

Source: Entrackr