TransBnk has recently completed a funding round, bringing its total capital raised to approximately $26 million and increasing its valuation by seven times, according to the company’s leadership team.
As reported by TechCrunch, TransBnk facilitates around 110 million transactions monthly, managing 11,000 bank accounts through over 1,500 APIs.
The company secured $25 million in its Series B funding from Bessemer Venture Partners, which included $4 million in secondary investments. Other participants included Fundamentum, Arkam Ventures, 8i Ventures, Accion, and Japan’s GMO Venture Partners.
TransBnk plans to expand beyond India into Southeast Asia and the Middle East, focusing on growth. The company aims to enhance its infrastructure platform and venture into sectors such as real estate, pharmaceuticals, and renewable energy.
Based in Mumbai, TransBnk describes its innovative approach as a "common operating system," providing businesses a single point of access to the banking ecosystem. This foundational layer of microservices supports various use cases such as treasury, liquidity, and escrow management.
Vaibhav Tambe, co-founder and CEO of TransBnk, emphasized the demand for a unified platform for transaction and corporate banking. "During our banking days, customers often requested a consolidated platform for transaction banking," he noted. "We took on this challenge to integrate multiple banks and create a single platform, accessible via a web interface, mobile app, SDKs, or APIs."