India, Aug. 28 -- Mumbai-based banking infrastructure startup TransBnk has raised $25 Mn (nearly INR 220 Cr) in its Series B round led by Bessemer Venture Partners.

The round also saw participation from Arkam Ventures and Fundamentum Partnership as well as existing backers such as 8i Ventures, Accion Venture Labs and GMO Venture Partners.

The startup plans to utilise the fresh proceeds to expand its presence to Southeast Asia and the Middle East. A chunk of the capital will also be deployed to strengthen the company's presence in India.

Founded in 2022 by Vaibhav Tambe, Lavin Kotian, Pulak Jain, and Sachin Gupta, TransBnk provides an API-based platform that connects corporates, fintechs, and lenders to multiple banks through a single s...