International fintech company TransBnk secures $25 million in Series B funding for global expansion and team strengthening.
TransBnk Raises $25 Million in Series B Funding Round
TransBnk, a Mumbai-based banking infrastructure platform, has announced that it has raised $25 million in a Series B funding round. The funding round was led by Bessemer Venture Partners, with 8i Ventures, which led the company's $4 million Series A round in August 2024, also participating.
Other participants in the funding round include Arkam Ventures, Fundamentum Partnership, Accion Venture Labs, GMO Venture Partners, and venture capital firm 8i Ventures. The news about the funding round was reported by Entrepreneur India.
TransBnk offers API-driven solutions for escrow management, cash flow automation, and reconciliation. The platform integrates with over 40 banks and serves more than 220 clients. Each client collectively accesses approximately 1,500 APIs monthly.
The funds raised in the Series B round will potentially be used to further develop TransBnk's technology and product development teams. TransBnk's goals of international expansion, according to Entrepreneur India, are to increase its global presence, access new markets, and enhance its competitive advantage.
The funds raised will also be used to expand TransBnk internationally. No specific date for the Series B funding round announcement was provided. Additionally, no information about the valuation of TransBnk after the funding round was provided in the paragraph.
TransBnk's services are based in Mumbai, India. The company's focus on offering efficient and reliable banking solutions has made it a popular choice among businesses in the region. With the new funding, TransBnk is poised to continue its growth and expand its reach to new markets around the world.
