TransBnk, a Mumbai, India-based fintech startup, raised $1M in Seed funding.
The round was led by 8i Ventures, with participation from Growthcap Ventures, Leadway Ventures, Growth Sense and others.
The company intends to use the funds to bolster its product and technical teams, enhance its tech stack, and expand its product line.
Founded in 2022 and led by CEO Vaibhav Tambe, TransBnk provides a programmable transaction banking system that empowers any financial ecosystem player to manage multi-party transactions in a compliant manner. Its technology platform has already been embraced by banks and lenders for managing capital flows in co-lending, lease rental discounting, and more. The company has established partnerships with over 10 private banks and served more than 50 corporate, institutional & fintech clients.