IBSFINtech Raises USD 1.5Mn in Midst of Funding Winter
Feb 27, 2024
BusinessWire India
Mumbai (Maharashtra)/ Bengaluru (Karnataka) [India], February 27: IBSFINtech India Private Limited ("IBSFINtech"), a globally recognized Treasury, Risk, Trade Finance and Supply Chain Finance Management company has secured Pre-series A round of USD 1.5 Mn amidst the challenging funding winter.
The financing round was led by a distinguished group of highly successful professional HNIs from the USA & India, including some marquee existing investors. The successful funding marks a significant milestone for IBSFINtech, reflecting resilience and investor confidence in the company's vision and capabilities. The company plans to utilize the funds strategically, to expand its global footprint, furthering its mission of providing state-of-the-art Treasury Management Solution (TMS) to corporations worldwide.
The company is poised to play a pivotal role in ensuring digitization of Treasury, Cash & Liquidity, Risk, Trade Finance and Supply Chain Finance functions.
CM Grover, MD & CEO of IBSFINtech, expressed gratitude for the trust placed by investors, stating, "We are honored by the trust and confidence that investors have shown in IBSFINtech. This round is the stepping stone towards the main funding phase planned in the early FY 2024 -25. We are excited about the growth journey ahead as we strive to establish ourselves as a global leader in this segment. This funding provides the necessary impetus to accelerate our global growth plans and enhance technology to deliver the most comprehensive, decision-making platform for business leaders across industries. Our vision is to make treasury automation solutions available to all sizes of corporations, creating value for everyone in the ecosystem."
Dr Praveen, New York-based renowned surgeon and serial investor, believes that IBSFINtech is uniquely positioned to be a global player in this niche segment and stated, "It's truly exciting to associate with IBSFINtech, the Made-in-India fintech company, and be a part of their exponential journey of becoming a global brand. Being associated with a company with strong roots from India fills me with pride, and I have unwavering faith in the capabilities of this homegrown TreasuryTech company that is making waves worldwide.
Investing in IBSFINtech means not just supporting a thriving business but also contributing to the global recognition of Indian innovation. It is indeed an honor to be a part of this transformative journey, and I look forward to witnessing the company's pioneering strides in the future."
As the company continues its journey toward global prominence, IBSFINtech's successful funding in the midst of challenging market conditions reaffirms the company's commitment to innovation and resilience.
With a strategic vision and strong leadership, IBSFINtech is set to redefine the landscape of Treasury, Risk, Trade Finance and Supply Chain Finance Management of the corporations globally. This transformative journey is amplified by its strategic partnerships with industry leaders LSEG (London Stock Exchange Group, erstwhile Refinitiv/Thomson Reuters), Oracle, and the Big 4's, creating a dynamic ecosystem propelling IBSFINtech towards unparalleled success in the fintech landscape.
The company was recently in news for expanding its presence in the USA, led by the appointment of Atul Punj as the CEO for the North Americas and Canada region.
Having established a leadership position in the home country, the company is on an exponential growth trajectory to become a global leader in this niche TreasuryTech space.
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