Bengaluru, Oct 7 (PTI) Bengaluru-based IBSFINtech India Private Limited (IBSFINtech), a leader in Treasury, Risk & Trade Finance Management solutions in India, has secured about $1 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).
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.
C M Grover MD and CEO at IBSFINtech, 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.”
(With inputs from PTI)