Bengaluru based treasury, risk and trade finance management solution provider, IBSFINtech has secured $1 million in pre-Series A round funding led by HNI professionals and family offices.
The round was led by Prem Rajani (Managing Partner, Rajani Associates), N Jayakumar, and Akshay Gupta (Management Team, Prime Securities).
“The plans to use the funds to launch the SaaS TMS (Treasury Management solution) in the domestic market and boost its global growth plans,” the statement said.
Commenting on the funding deal, C M Grover, MD & CEO of IBSFINtech, 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,” Grover added.
Commenting on the investment, N Jayakumar, MD Prime Securities, said, “There has been a constant shift towards system-driven decision making. IBSFINtech through its SaaS and on-premises modules is well-positioned to provide a secured, end-to-end, integrated, seamless, automated experience of corporate treasury operations.”
Prime Securities Limited was the Investment Banker to this transaction.