TransBnk, a fintech company specializing in banking solutions, raised $4 million in Series A funding led by 8i Ventures, with co-lead Accion Venture Lab and participation from GMO Venture Partners, Ratio Ventures, Force Ventures, and various investors.
The company will use the funds to expand its banking partners’ networks, enter Middle Eastern and Southeast Asian markets, and enhance its tech infrastructure and product stack.
“In India, the $200 billion unsecured lending market is poised for disruption as transaction banking taps into cash flows. This offers a significant opportunity for us, given our expertise in banking and technology across lendingtech, regtech, and paytech,” said Vaibhav Tambe, CEO and co-founder of TransBnk. Currently, the company serves 100 clients in the banking, financial services, and insurance (BFSI) sector.
TransBnk has partnered with 25 banks, offering over 250 APIs. The platform supports more than 5,000 accounts, including escrows, and has processed over 50 million transactions. “TransBnk is transforming India’s trillion-dollar transaction banking sector by enabling banks to provide advanced transaction services and bridging the technology gap. Their innovative approach is poised to reshape the financial landscape. This investment aligns perfectly with our strategy of backing groundbreaking fintech ventures,” said Vikram Chachra, founding partner of 8i Ventures.