India’s consumer fintech sector has raced ahead with UPI and instant wallets. Corporate banking, by contrast, has been left behind in a maze of paper trails and spreadsheet reconciliations. Mumbai-based TransBnk has raised $25 million in Series B funding led by Bessemer Venture Partners to change that imbalance and deliver what it calls a “common operating system” for enterprise banking.
Corporate Banking’s Stalled Evolution
India counts nearly 75 million SMEs, yet transaction banking still relies on manual processes. Enterprises juggle multiple bank portals and reconcile accounts with Excel, even as the country’s consumer fintech industry now supports 26 unicorns worth $90 billion.
The contrast highlights a $20 billion market opportunity in B2B financial infrastructure by 2030, according to Chiratae Ventures and The Digital Fifth. While consumer fintech captured headlines, the real white space lies in upgrading the rails of corporate finance.
What TransBnk Is Building
Founded in 2022 by former bankers Vaibhav Tambe, Lavin Kotian, Pulak Jain, and Sachin Gupta, TransBnk integrates with banks to provide businesses a single window for payments, collections, escrow, treasury and liquidity management.
“During our banking days, customers constantly asked for a unified platform for transaction banking,” CEO Tambe said. “We realised the challenge was to consolidate integrations across multiple banks and deliver it in one stack — through web, mobile, or APIs.”
The model resembles global players such as Finastra and Treasury Prime, but local competition in India remains sparse.
Traction in Numbers
- 60 banks connected, with 40 fully integrated for live processing.
- 220 customers, comprising 80% fintechs, NBFCs, and lenders, and 20% banks that white-label its software.
- 110 million monthly transactions across 11,000 accounts via 1,500 APIs.
- $12 million in annual recurring revenue, up 12x year on year.
- Profitability achieved in February 2025, with gross margins around 80%.
Who Backed the Round
Alongside Bessemer, participants included Fundamentum, Arkam Ventures, 8i Ventures, Accion, and GMO Venture Partners. The round included $4 million in secondary sales, pushing TransBnk’s total funding to $26 million and marking a sevenfold valuation jump from its last raise.
The capital will support expansion into Southeast Asia and the Middle East, with sector pilots planned in real estate, pharma, and renewable energy.
Why It Matters
Corporate banking modernisation is one of the hardest problems in fintech. It requires deep integration with legacy systems, trust from incumbent banks, and seamless connectivity with enterprise ERPs. TransBnk’s early profitability, strong margins, and high throughput suggest it has cracked the formula.
If India’s first fintech wave was about democratising payments for consumers, the second could be about digitising enterprise finance at scale. TransBnk is betting it can become the infrastructure layer that enables it.
Editor’s Note: With investors backing its infrastructure-first play, TransBnk is positioning to be the core banking API layer for enterprises across Asia and the Middle East, not just India.
