The capital will be used to grow the fintech startup’s product and technical teams and expand its product line
TransBnk, a fintech startup based in Mumbai, in a seed funding round, has secured $1 million. The funding round was led by early-stage venture capital fund 8i Ventures.
The capital will be used to grow the fintech startup’s product and technical teams and expand its product line. The aim of the startup is to reshape the management of specialised accounts and B2B payments, which are the foundation of lending ecosystems, capital markets, supply chain finance, and treasury management.
To manage multi-party transactions in a compliant manner, the fintech startup, founded by veterans in transaction banking from IndusInd Bank and Aditya Birla Finance in April 2022, offers a programmable transaction banking system that empowers financial ecosystem players, including banks, NBFCs, and emerging fintechs.
“TransBnk’s innovative tech stack is gaining traction as the gold standard for frictionless B2B transactions, strengthening our partnerships with key players in the private banking, NBFC, and fintech sectors. With the support of 8i Ventures and our robust team of angel investors, we are thrilled to accelerate our vision,” said Vaibhav Tambe, CEO and Co-founder of TransBnk.
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