With India's corporate banking lagging decades behind consumer fintech, TransBnk raises $25M to bridge the gap | TechCrunch

"Over the past decade, India has experienced a significant boom in consumer fintech, driven by transformative shifts such as the rise of digital payments through the government-backed Unified Payments Interface (UPI) and the proliferation of payment aggregators. However, these innovations have done little to enhance the experience for businesses, especially in transaction banking, where payments, collections, and even account statements still rely on manual processes. Business customers often juggle multiple internet banking portals and rely on spreadsheets for reconciliation."

"India's B2B fintech industry is projected to reach a market size of $20 billion by 2030, according to a February 2024 report by Chiratae Ventures and The Digital Fifth. The country is already home to 26 fintech unicorns with a combined market value of $90 billion, per data analyzed by JM Financial last year. However, most of these startups have focused primarily on innovations in payments and lending rather than core banking infrastructure."

"However, most of these startups have focused primarily on innovations in payments and lending rather than core banking infrastructure. Mumbai-based TransBnk, co-founded by former bankers Vaibhav Tambe, Lavin Kotian, Pulak Jain, and Sachin Gupta, positions itself in this space with what it calls a "common operating system" - a single window through which businesses can access the banking ecosystem. It offers a foundational layer of microservices, enabling use cases such as treasury, liquidity, and escrow management to be"

Digitization transformed consumer banking, but corporate banking in India still depends on clunky infrastructure, paper trails, and spreadsheet-heavy workflows. Payments, collections, and account statements often rely on manual processes, forcing business customers to juggle multiple internet banking portals and perform reconciliation in spreadsheets. India hosts nearly 75 million SMEs that would benefit from modern financial infrastructure. India's B2B fintech market is projected to reach $20 billion by 2030, while most fintech unicorns have focused on payments and lending rather than core banking infrastructure. Mumbai-based TransBnk offers a common operating system and a foundational layer of microservices to support treasury, liquidity, and escrow management. Bessemer Venture Partners invested $25 million to accelerate TransBnk's growth.

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