Hello, tech fans! Let’s dive into an exciting story about how India’s corporate banking is getting a modern makeover.

While digital payments have revolutionized how Indians handle their finances, big businesses are still stuck with outdated, paper-heavy processes. Enter TransBnk, a fresh startup aiming to create a unified platform for corporate banking. Launched in 2022, it connects with dozens of banks and supports hundreds of clients, including lenders and fintech companies.

The company’s goal is to develop a single operating system that offers a range of financial services through microservices architecture. This approach makes transaction management, treasury, and escrow processes easier and more efficient for businesses. Co-founder and CEO Vaibhav Tambe said they wanted to offer a consolidated platform that integrates multiple banks seamlessly—whether via web, mobile, SDK, or APIs.

With solid growth, TransBnk now works with 60 banks, has over 220 customers, and processes millions of transactions each month. Recently, they secured $25 million in a funding round led by Bessemer Venture Partners, boosting their valuation significantly. The startup aims to expand beyond India into Southeast Asia and the Middle East, also targeting sectors like real estate and pharma.

Building this infrastructure involves working with legacy banking systems and connecting to enterprise platforms like ERPs. Despite the challenges, TransBnk’s revenue has surged over 12 times in just a year, reaching around $12 million annually. Their technology, with over 1,500 APIs, supports tens of millions of transactions and enables banks to improve their digital offerings.

This innovative approach is part of a global trend where companies like Finastra and Temenos are modernizing banking through software, but India still has few startups in this space. TransBnk’s success signals a bright future for digital infrastructure in corporate banking, bridging a huge gap and unlocking the country’s vast SME potential.