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IBSFINtech, an enterprise treasury management solution provider, has announced plans to expand to international markets besides deepening its presence in India.
The firm, which is already catering to more than 200 entities through its clients, is planning to expand to the ASEAN and Middle East markets to start with. To cater to various clients and industries across the globe, the company has finalised plans to set up a subsidiary in Singapore.
“Our international expansion will help us to reach more businesses and enable them to take advantage of the efficiencies and cost savings that our technology can offer. We are confident that that our solution will help to redefine the way organisations function throughout the world,” Chandra Mohan Grover, managing director & CEO, IBSFINtech, said.
“The global partnerships with Refinitiv which is a part of London Stock Exchange Group and Oracle are adding impetus to the expansion plans,” he added.
Mr. Grover said the company was looking to raise $15 million which would fuel the global expansion plans.
“Other than product enhancement and migration to cloud, the funds would enable us in hiring resources, building a team and upgrading the technology,” he added.
The firm provides end-to-end digitisation and automation solutions around cash and liquidity, treasury, risk, trade finance and supply chain finance management. Its plan is to become a predominantly Software-as-a-Service (SaaS) company within the next 4 years while earning 70-80% of its overall revenues from its SaaS products, he added.
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