While consumer fintech has flourished in India, corporate banking remains stuck in outdated systems, still reliant on spreadsheets, paper trails, and fragmented portals. TransBnk, a Mumbai-based start-up, is looking to change that and has secured $25 million in Series B funding led by Bessemer Venture Partners to accelerate its mission.
Founded in 2022 by former bankers Vaibhav Tambe, Lavin Kotian, Pulak Jain, and Sachin Gupta, TransBnk provides what it calls a “common operating system” for transaction banking. Its platform integrates with multiple banks to offer services like treasury, liquidity, and escrow management through a unified interface, SDKs, or APIs.
The startup currently works with 60 banks, 40 of them fully integrated, and serves 220 customers, 80% merchants such as lenders, fintechs, and NBFCs, and 20% banks that white-label its software. With its infrastructure, TransBnk enables around 110 million transactions monthly, covering 11,000 accounts and powered by more than 1,500 APIs.
In the past year, TransBnk’s revenue has grown more than 12x to $12M ARR, with the company reporting profitability since February and maintaining 80% gross margins.
The $25M round, which includes $4M in secondary share sales, also saw participation from Fundamentum, Arkam Ventures, 8i Ventures, Accion, and GMO Venture Partners. With this raise, TransBnk has secured about $26M in total funding, with its valuation up 7x from the last round.
Related: Indian Startups Shut Down Real-Money Gaming After Parliament Passes Ban
The company plans to use the fresh capital to expand into Southeast Asia and the Middle East, while also targeting sectors such as real estate, pharma, and renewable energy. “Can we consolidate and integrate with multiple banks and then create a single platform? That was always the challenge customers asked for,” said CEO Tambe. Globally, players like Finastra, Temenos, and Treasury Prime are modernizing corporate banking. But in India, TransBnk is among the first startups attempting to bring core banking infrastructure into the digital era, in what could become a $20 billion B2B fintech market by 2030.
