Saturday, May 18, 2024
HomeStart UpFintech startup TransBnk bags $1mn from 8i Ventures

Fintech startup TransBnk bags $1mn from 8i Ventures

TransBnk, a Mumbai-based FinTech startup, has raised $1 million in seed funding round.

The round was led by 8i Ventures, the early-stage India-focused VC fund. A prestigious group of family offices, institutions, and angel investors joined Growthcap Ventures, Leadway Ventures LLP, and Growth Sense to participate in the round.

Vaibhav Tambe, CEO and Co-Founder of TransBnk shared his thoughts on the venture, stating, “With a cumulative 60+ years of transaction banking experience within our team, we were driven to disrupt the status quo. 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.”

With the new funding, TransBnk can strengthen its technical and product teams, enhance its tech stack, and expand its product line. The company aims to transform the management of specialized accounts and B2B payments, which form the foundation of capital markets, supply chain finance, lending ecosystems, and treasury management.

Vikram Chachra, Founding Partner at 8i Ventures, commented on the funding said, “TransBnk is filling a crucial gap between the technology ‘haves’ and ‘have-nots’ in India’s trillion-dollar transaction banking landscape. By providing a disruptive solution to the financial ecosystem, they are strategically positioned to bring about a seismic shift in transaction banking. This investment aligns with our commitment to support ventures that redefine the fintech landscape.”

Subscribe To Newsletter

ICYMI

BRL Editor
BRL Editorhttps://businessreviewlive.com
Business Review Live covers finance, technology, travel, lifestyle, and everything in between through exclusive interviews and analysis, market statistics, digital video, and an expanded array of content formats.