Mumbai-based banking infrastructure startup TransBnk raises $25 million in funding

TransBnk, a Mumbai-based banking infrastructure startup, has raised $25 million in a Series B funding round led by Bessemer Venture Partners, with participation from Arkam Ventures and Fundamentum Partnership.

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Existing investors, including 8i Ventures, Accion Venture Lab, and GMO Venture Partners, also joined the round.

The investment was made through Bessemer’s second India-focused fund, a $350 million corpus launched earlier this year. The new financing follows TransBnk’s $4 million Series A led by 8i Ventures in August 2024 and a seed round in June 2023.

Founded in 2022 by former IndusInd Bank executive Vaibhav Tambe, along with Lavin Kotian, Sachin Gupta, and Pulak Jain, TransBnk provides an API-driven platform that connects fintechs, corporates, non-banking finance companies, and other institutions with multiple banks through a single interface. Its system enables onboarding, transactions, reconciliations, and escrow management across banking partners.

The startup claims to have integrated with more than 40 banks, spanning private, public, multinational, and small finance institutions, and serves over 220 clients who access nearly 1,500 APIs each month. Its infrastructure supports use cases across lending, wealth-tech, escrow services, and cross-border payments.

The startup plans to use the fresh funds to strengthen its technology and product teams and expand into Southeast Asia and the Middle East, markets where banks are shifting from legacy, capital-expenditure heavy systems to modular, operating-expenditure-led alternatives.