WestBridge Capital invests in TSS Consultancy at Rs 900 Cr valuation
The company will use the funds for research and development, particularly in artificial intelligence, and scale its SaaS offering 'Screenzaa', including launching new products in financial crime niches.
Regulatory tech company TSS Consultancy has secured an undisclosed investment from at a valuation of Rs 900 crore, marking its maiden round.
The company will use the funds for research and development, particularly in artificial intelligence, and scale its SaaS offerings 'Screenzaa', including launching new products in financial crime niches.
Mumbai-based TSS Consultancy is a financial technology and compliance partner founded by Sagar, Sameer, and Chandrakant Tanna in 2008. It works with over 350 institutions, including banks, stock brokers, stock exchanges, hedge funds, etc., across India, South Africa, and the US, such as HDFC Securities, Axis Bank, and .
Its software suite is designed to empower the BFSI, NBFC, brokerage firms, insurance companies, banks, and payment solutions providers to fight financial crime, money laundering, terrorist financing, etc. offers relief to small and large institutions by preventing or reporting money laundering activities using a risk-based approach.
“As India walks towards becoming a five trillion economy, the government has been proactive about uprooting unlawful financial activities from our systems. We believe protecting our financial systems and complying with the law of the land is crucial," Sagar Tanna, Founder and CEO of TSS Consultancy, said.
He added, "Our mission is to help every financial institution and empower financial soldiers to fight financial crime with cutting-edge technology and data intelligence with reasonable investments in the area of money laundering, KYC, terrorist financing, and insider trading.”
The company claims to have grown its revenue by 43% in the last 12 months, with a topline of Rs 60 crore.
WestBridge Capital manages more than $7.5 billion of capital across investment funds in India and Mauritius, focusing on investments in India.
The venture capital firm aims to partner with mid-size private and public companies for long-term success. With over 150 investments, WestBridge assists portfolio companies in strategy, operations, management recruiting, and fundraising.
Edited by Suman Singh