News Summary

TransBnk, a Mumbai-based fintech startup, has secured $25 million in a Series B funding round led by Bessemer Venture Partners to modernize India’s corporate banking sector. While consumer banking in India has advanced with digital payments, corporate banking remains outdated, relying on manual processes. TransBnk aims to bridge this gap by offering a ‘common operating system’ for businesses to access banking services. The startup, founded by former bankers Vaibhav Tambe, Lavin Kotian, Pulak Jain, and Sachin Gupta, currently works with 60 banks and 220 customers, providing integrated banking solutions. With a 12x revenue growth over the past year and a profitable status, TransBnk plans to expand into Southeast Asia and the Middle East.