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IBSFINtech gets USD 1 mn in pre-Series A to boost global growth

IBSFINtech raises USD one million in pre-Series A round

Funding News

IBSFINtech gets USD 1 mn in pre-Series A to boost global growth

Bengaluru-based IBSFINtech India Private Limited (IBSFINtech), a leader in Treasury, Risk & Trade Finance Management solutions in India, has secured about USD one million in a pre-Series A round led by HNI investors.

IBSFINtech said in a statement it will use the funds to launch the SaaS TMS (Treasury Management solution) in the domestic market and boost its global growth plans. The financing round was led by a group of professionals, including Prem Rajani (Managing Partner, Rajani Associates), and N Jayakumar and Akshay Gupta (Management Team, Prime Securities).

Also read: Paid millions to hide trillions: Pandora Papers expose financial crime enablers, too

Founded by ex-bankers, IBSFINtech’s integrated TRTFM solution fills a “tremendous gap” in the industry, wherein even today, the complex and critical corporate treasury functions are predominantly driven by spreadsheets, the statement said. MD and CEO of IBSFINtech, C M Grover, said, Our vision is to make treasury automation solutions accessible to all sizes of corporations with a view to creating substantial economic value for all the stakeholders.

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