Mumbai-based TransBnk, a fintech startup digitizing corporate banking in India, has raised $25 million in Series B funding led by Bessemer Venture Partners, with participation from Fundamentum, Arkam Ventures, 8i Ventures, Accion, and GMO Venture Partners.
The round included $4M in secondary transactions.
Founded in 2022 by former bankers Vaibhav Tambe, Lavin Kotian, Pulak Jain, and Sachin Gupta, TransBnk addresses a long-standing gap: while consumer fintech in India has boomed thanks to UPI and digital payments, corporate banking remains burdened by manual processes, multiple portals, and spreadsheets.
A “common operating system” for banks and businesses
TransBnk provides a single consolidated platform for transaction banking, offering APIs and SDKs that enable treasury, liquidity, escrow, and reconciliation workflows across multiple banks. The company currently works with 60 banks, of which 40 are fully integrated, and serves 220 customers — 80% of them merchants like fintechs, NBFCs, and lenders, while 20% are banks that white-label its software.
“The idea was to consolidate and integrate multiple banks into a single stack, available through web, mobile, SDKs, or APIs,” said CEO Vaibhav Tambe.
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Strong traction and profitability
TransBnk says revenue grew 12x in the past year to around $12M ARR, while turning profitable in February with gross margins near 80%. The platform currently powers 110 million transactions monthly, spanning 11,000 bank accounts and more than 1,500 APIs.
The fresh funding will be used to:
- Expand to Southeast Asia and the Middle East
- Extend its reach to real estate, pharma, and renewable energy sectors
- Continue scaling its infrastructure platform layer
Globally, firms like Finastra, Temenos, and Infosys’ Finacle dominate corporate banking software, while US players such as Treasury Prime drive embedded finance. In India, however, TransBnk is emerging as one of the few players bridging corporate banking’s digital lag.
