IBSFINtech raises USD one million in pre-Series A round

BENGALURU, Oct 7: 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). 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.” (PTI)