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IBSFINtech Secures an Undisclosed Seed Funding from Shailesh Haribhakti

The company is also in early stage of discussions to raise growth funding of $2-4 million for scaling up operations globally, product research and development.

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IBSFINtech India Pvt. Ltd a leading provider of comprehensive, innovative & integrated Corporate Treasury Management solutions has raised an undisclosed seed funding from Mr. Shailesh Haribhakti, Chairman of Haribhakti & Co.

Showing his faith in IBSFINtech's Integrated Treasury Management Solution, he quotes, "IBSFINtech is the Gold standard in Treasury & Forex management software."

C M Grover, Executive Director, IBSFINtech quotes, “We are deeply honoured and obliged by Shailesh Haribhakti’s gesture of faith in our company. We thank him for providing us this opportunity and we all are thrilled for the prospects this holds for IBSFINtech.”

T M Manjunath, Director – Technical Services, IBSFINtech stated, “Our Products’ have immense growth potential and ability to serve all medium to large corporates, financial institutions & Public Sector Undertakings. IBSFINtech reckons its potential, and is constantly investing resources to enhance product for offering contemporary solution and staying ahead in changing times.” He further adds, “Shailesh Haribhakti’s gesture of faith in our products further strengthens my belief in IBSFINtech becoming an unstoppable force in the treasury & trade finance management space.”

The company is also in early stage of discussions to raise growth funding of $2-4 million for scaling up operations globally, product research and development.

IBSFINtech is a global software product company that manages $20 Billion treasury market transactions in India; The Company was founded in 2006 by technopreneurs that exceed 100+ person years domain experience in IT, Finance & Treasury. 

The company takes pride in being an only Indian Company to offer Comprehensive Treasury and Trade Finance Solutions for corporates, PSUs and SMEs

The company is currently serving several customers across various industries such as Automotive, Chemicals, Media, Steel, Textiles, e-Commerce, Retail, Commodity, Diamond & Jewellery. The company’s innovative product portfolio can serve clients from different industry vertical ranging from core manufacturing (Steel, Textiles, Refineries) to IT /Software services and large trading companies to pure Services Providers (like Forex Consultants). Some of the existing client names include: HCL, Sonalika International Tractors Ltd, Indofil Chemicals Ltd and Himatsingka Seide Limited.

The company has been in limelight recently over selection by Maruti Suzuki to implement treasury management solution at the automobile giant.

$135 Trillion global market opportunity:

According to McKinsey, the market potential of Corporate Treasury, B2B Payments and cash flows is $135 trillion globally.

Organisations across the globe are moving a step forward with accurate measurement of risk as well as incorporating automation as an inherent process in treasury management.

There are over 6200+ companies only in India with turnover greater than USD 74 M which are dependent on excel sheets for treasury management; and these amount to 75% of the pie. This data points clearly reflects that there is tremendous scope for adoption of technology in treasury management, extending support to treasurers beyond end-to-end usage of TMS across the organization, and also including interfaces with other financial systems as well as disparate data sources within the organization.

Discussing about growth and demand of a TMS in the industry, C M Grover, mentioned, “We at IBSFINtech have observed tremendous growth in this segment in last few years. The number of clients coming onboard have tripled year on year and this has further strengthened our faith in the scope of IBSFINtech’s Innovative and Award Winning Products for the industry.” 

He further adds, “In next few years, we foresee IBSFINtech as leading the FinTech industry, with core focus on Integrated Treasury & Trade Finance Management solutions, in India as well as globally!”

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