TSS Trackwizz Secures Investment From WestBridge Capital At INR 900 Crore Valuation The funds raised will be used for research and development particularly artificial intelligence and to scale SaaS offerings including the launch of new products in niche areas of financial crime
By Teena Jose
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Reg-tech company TSS Consultancy has received an investment from WestBridge Capital at a valuation INR 900 crore. This is a maiden round raised by the Company, where the funds raised will be used for research and development particularly artificial intelligence and to scale SaaS offerings including the launch of new products in niche areas of financial crime.
"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. 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," said Sagar Tanna, founder and CEO, TSS Consultancy.
TSS Consultancy's tech platform called TrackWizz, helps financial institutions fight financial crime specifically towards money laundering and surveillance. Apart from the brokers, Trackwizz said it is also used by top banks in India, NBFC's and fintech companies. Currently with its clients like HDFC securities, Axis Bank, Zerodha, among others, Trackwizz aims to provide cutting edge technology solutions and is dedicated to serving the finance industry focussed on fighting financial crime, making operations efficient and helping business grow while keeping the economy crime free.
"We are excited to partner with Trackwizz as they expand their market leadership by enhancing their suite of robust and innovative products in a fast-growing compliance market, a top-of-mind space for both financial institutions and governments globally," said Deepak Ramineedi, partner at WestBridge Capital.
Headquartered in Mumbai, TSS Consultancy was founded in 2008 by Sagar, Sameer and Chandrakant Tanna.
