Bengaluru based IBSFINtech India Private Limited (“IBSFINtech”), a leader in Treasury, Risk & Trade Finance Management® (“TRTFM®”) solutions in India, has secured about USD 1 MN in a pre-Series A round led by successful HNI professionals. IBSFINtech will use the funds to launch the SaaS TMS (Treasury Management solution) in the domestic market and boost its global growth plans. Prime Securities Limited was the exclusive Investment Banker to this transaction and shall continue the partnership for raising the next funding rounds.
The financing round was led by a group of highly successful professionals, including Prem Rajani (Managing Partner, Rajani Associates), N Jayakumar and Akshay Gupta (Management Team, Prime Securities).
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. Over the years, the sector has witnessed monumental visibility among CxOs in terms of scope and demand due to technological innovations, globalisation and growing regulatory requirements. Pandemic led digitization has further augmented the end-to-end treasury automation mandates amongst the corporations.
Commenting on the funding deal, Mr. C M Grover, MD and CEO of IBSFINtech, welcomed all the incoming investors and said, “We are humbled to onboard such a prestigious and credible investor base. We are proud that IBSFINtech is disrupting the niche Corporate Treasury and Trade Finance ecosystem, and there is a massive white space opportunity in this segment. This funding provides the necessary impetus to expand our playing field with our newly launched SaaS TMS. It will accelerate our global growth plans and bolster technology to deliver the most comprehensive, decision-making platform for business leaders across industries. Our vision is to make treasury automation solutions accessible to all sizes of corporations with a view to create substantial economic value for all the stakeholders.”
Mr. N Jayakumar, MD Prime Securities, delighted with this association, said, “Market research shows the CxOs are still dependent on non-system driven reports for managing large treasury flows. There has been a constant shift towards system driven decision making. IBSFINtech through its SaaS and on-premises modules is well positioned to provide secured, end-to-end, integrated, seamless, automated experience of corporate treasury operations. With ecosystem partnerships like Refinitiv and Oracle, the company can reach a wide network of large, medium and small enterprises”.
The solution developed by this home-grown company, IBSFINtech, enables CxOs and treasurers to strengthen the heart of a corporate, the Treasury & Trade finance function, by enhancing visibility, improving control, mitigating operational risk, driving automation and optimizing business efficiency. Moreover, there is an existing gap in this industry segment for a niche SaaS TMS product which is cost-effective, multi-entity, multi-currency, multi-asset-class-enabled integrated & comprehensive treasury solution. IBSFINtech has recently launched SaaS TMS, InTReaX™ in partnership with Refinitiv (Erstwhile Thomson Reuters), now a London Stock Exchange Group (LSEG) company for the mid and emerging corporations of the country.