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Transcend raises $10 million in first round

Our CEO Bimal Kadikar spoke with Oliver Wade at Global Investor Group about the Company’s recent success:

Transcend has raised $10 million (£7.7 million) in its Series A financing as it looks to meet rising demand from its growing client base, which has more than doubled in the past two years.

The financing round was led by Nyca Capital, a specialist fintech venture capital firm, and was followed by support from a global custodian bank who wished to remain anonymous.

Speaking to Global Investor, Bimal Kadikar, CEO of Transcend, said: “From the outset of our Series A funding, we were primarily looking to find partners that would complement our business. It would have been relatively easy to have raised more money as almost all of the 10 or so venture capital firms we spoke to came back and said they wanted to invest in the business, but there wasn’t enough room in this round.”

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