Treasurytech IBSFINtech plans overseas foray

IBSFINtech, a local enterprise treasury technology company, plans to go international with the launch of subsidiaries in overseas markets such as Singapore, the Middle East and the United States, said Managing Director and CEO Chandra Mohan. Grover.

The Bengaluru-based company, which provides end-to-end digitization and automation solutions around treasury and liquidity, treasury, risk and trade finance management (TRTFM), also plans to participate. to a Series A fundraising round of $10-15 million. months, said Grover Activity area.

This fundraising will definitely be completed by September 2022, he said. The company caters to multiple industries, from mining and steel to IT, automotive and consumer goods. “We will be in the next fiscal year in at least two of the three overseas markets (Singapore, Middle East and United States) through our subsidiaries,” he said.

Grover also noted that it would be easier for treasury technology to sell its treasury solutions in developed markets like Singapore where there is a better understanding of automated cash management. and revenue realization will also be higher.

“We are in such an area (cash flow) where the players are not there,” he noted. IBSFINtech now counts among its clients the largest automobile manufacturer, the largest steel producer and the largest media house in the country.

Grover said IBSFINtech would also seek to double headcount to 100 people in 2022-23, from the current level of around 47 people.

He said that IBSFINtech will transform in the next few years into a SaaS company. “In the next 4 to 5 years, we want to become a complete SaaS player. We have already launched two SaaS products (such as the VNDZY supply chain finance product). We are seeing significant growth in SaaS. Focusing on SaaS will give us a higher EBIDTA. »

IBSFINtech recently launched the new TMS SaaS, InTReaX™, for cash and liquidity management, foreign exchange risk management and hedge accounting; in partnership with Refinitiv, a leading global provider of financial market data and infrastructure, a London Stock Exchange Group (LSEG) company.

“We are not going to lose our dominance among the big companies in the country. For medium and emerging companies, we are moving massively towards SaaS through partnerships. We are also in talks with private sector banks who will distribute our product by integrating with their core banking platform,” he said.

CxOs faced challenges, especially after the global pandemic pushed businesses to go digital. These include data integrity, information asymmetry, compliance, transparency, and control, all of which have been magnified due to the involvement of multiple teams and systems.

IBSFINtech helps companies meet all these challenges with its scalable and configurable decision support system that ensures business continuity through meeting risk management, regulatory compliances and other critical audit requirements.

Published on

March 12, 2022

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