TransBnk, a Mumbai-based fintech startup founded in 2022 by former IndusInd Bank executives, has secured USD 25 million in a Series B funding round led by Bessemer Venture Partners, with participation from Arkam Ventures, Fundamentum Partnership, and existing investors.

The company provides an API-based platform that connects corporates, fintechs, and lenders to over 60 banks through a single interface, streamlining transaction management and reconciliation.

Since its inception, TransBnk has experienced rapid growth, with revenue increasing over 12 times to approximately $12 million annually, achieving profitability in February, and now processing around 110 million transactions per month across 11,000 bank accounts with gross margins of about 80%.

The new funding will be used to expand into Southeast Asia and the Middle East, as well as to strengthen its technology and product teams in India.

TransBnk’s solutions are utilized in areas such as lending, wealth technology, and cross-border payments, serving a diverse client base including startups, lenders, and fintechs.

The company’s offerings are comparable to global players like Finastra, Temenos, and Treasury Prime, but in India, few startups focus on core banking infrastructure, presenting a significant market opportunity.

Operating an API-based platform that supports escrow management, cash flow automation, and reconciliation, TransBnk serves over 220 clients and processes nearly 1,500 APIs monthly.

The company has reported revenue of INR 2.68 crore and a loss of INR 1.25 crore for the fiscal year ending March 2024, with plans to grow further.

This funding round comes amid increasing regulatory focus on AI in banking, with the Reserve Bank of India emphasizing trust, fairness, and transparency in AI adoption.

The Indian fintech sector is projected to grow into a $2.1 trillion opportunity by 2030, fueling innovation and investment in API banking infrastructure.

TransBnk previously raised a USD 4 million Series A in August 2024 and a seed round in June 2023, demonstrating strong investor confidence.

Founded by Vaibhav Tambe, Lavin Kotian, Pulak Jain, and Sachin Gupta, the startup aims to replicate its success in new regions with similar banking modernization needs.