IBSFINtech, a home-grown enterprise treasury-tech company, plans to go international with the launch of subsidiaries in overseas markets such as Singapore, Middle East and the US, said MD and CEO Chandra Mohan Grover. 

The Bengaluru-headquartered company, which provides end-to-end digitisation and automation solutions around cash and liquidity, treasury, risk, and trade finance management (TRTFM), also plans to go in for a Series A fundraise of $10-15 million next month, Grover told BusinessLine. 

This fundraise will definitely be completed by September 2022, he said. The company caters to multiple industries from mining and steel to IT, automobile, and consumer goods. “We will next fiscal be in atleast two of three overseas markets (Singapore, Middle East and US) through our subsidiaries”, he said. 

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

“We are in such a domain (treasury) where players are not there”, he noted. IBSFINtech now counts the largest automaker, largest steel producer and largest media house in the country among its clients. 

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

He said that IBSFINtech would in the next few years transform into a SaaS company. “In the next 4-5 years we want to become a complete SaaS player. We have already launched two SaaS products (like supply chain Finance product VNDZY). We see major growth in SaaS. Focusing on SaaS will give us higher EBIDTA.” 

IBSFINtech had recently launched new-age SaaS TMS, InTReaX™, for cash and liquidity management, currency risk management and hedge accounting; in partnership with Refinitiv, a leading global financial markets data and infrastructure provider, a London Stock Exchange Group(LSEG) company.

“ We are not going to lose our dominance among large corporates in the country. For mid and emerging corporates, we are going on SaaS in a big way 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 have been facing challenges, particularly after the global pandemic pushed businesses to go digital. These include data integrity, information asymmetry, compliance, transparency and control, all of which have been amplified due to the involvement of multiple teams and systems. 

IBSFINtech helps corporates address all these challenges with its scalable and configurable decision support system that ensures business continuity through adherence to risk management, regulatory compliances and other essential audit requirements. 

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