With India’s corporate banking lagging decades behind consumer fintech, TransBnk raises $25M to bridge the gap
With India’s corporate banking lagging decades behind consumer fintech, TransBnk raises $25M to bridge the gap and modernize the country’s outdated systems. While Indian consumers enjoy seamless UPI payments and app-based financial services, businesses are still stuck with clunky portals, paper trails, and spreadsheet-heavy workflows.
Image Credits:DEV IMAGES / Getty Images
Bessemer Venture Partners has backed TransBnk with a $25 million investment to speed up the digitization of corporate banking and close this critical gap.
Consumer fintech thrives, but corporate banking falls behind
Over the last decade, consumer fintech in India has exploded. UPI revolutionized payments, and aggregators made digital transactions mainstream. Yet, businesses have been left behind.
In transaction banking, tasks like payments, collections, and reconciliations still involve manual processes. Many business customers rely on multiple bank portals and spreadsheets to track finances — a system prone to inefficiencies and errors.
This lag is especially striking given India’s position as the world’s largest SME market, with nearly 75 million small and medium enterprises. These businesses stand to benefit enormously from modernized corporate banking infrastructure.
A $20B opportunity in B2B fintech
Corporate banking’s inefficiency isn’t just a pain point — it’s a massive opportunity. India’s B2B fintech sector is expected to reach $20 billion by 2030, according to a report by Chiratae Ventures and The Digital Fifth.
The country already boasts 26 fintech unicorns worth $90 billion collectively, per JM Financial data. But most of these players focus on consumer payments and lending, leaving core banking infrastructure largely untouched. This is where TransBnk steps in.
TransBnk’s “common operating system” for banks
Mumbai-based TransBnk, founded in 2022 by former bankers Vaibhav Tambe, Lavin Kotian, Pulak Jain, and Sachin Gupta, is building what it calls a “common operating system” for corporate banking.
Through its platform, businesses can access the banking ecosystem via a single window. The startup’s microservices-based foundation enables treasury, liquidity, escrow management, and more — all without needing separate systems.
“During our banking days, customers kept asking for a single, consolidated platform for corporate banking,” said CEO Tambe. “We wanted to integrate multiple banks into one platform, whether through a web app, mobile interface, SDKs, or APIs.”
Scaling fast with banks and businesses
In just three years, TransBnk has grown rapidly. The company currently works with 60 banks, 40 of which are fully integrated for processing payments, transactions, and reconciliations.
Its customer base includes 220 clients, with 80% being merchants such as lenders, fintechs, and NBFCs. The remaining 20% are banks that white-label TransBnk’s software to offer corporate banking services to their own customers.
Why this funding matters
With India’s corporate banking lagging decades behind consumer fintech, TransBnk raises $25M to bridge the gap at a pivotal moment. The fresh capital will allow the startup to deepen integrations, expand its customer base, and accelerate adoption of modern banking infrastructure across India’s massive SME sector.
As consumer fintech continues to set global benchmarks, TransBnk’s push to modernize corporate banking could finally bring businesses up to speed — transforming India’s financial ecosystem end to end.
Post a Comment