Fintech SaaS Solutions Provider Trust Fintech Raises INR 5.42 Cr In Pre-IPO Round

Fintech SaaS company Trust Fintech said it has raised INR 5.42 Cr ($653k) in its pre-IPO round from Tally Solutions MD Tejas Goenka, Mphasis Canada’s head of business Nitin Sathawane, and ex-HDFC treasury head Ramnath Raikar.

Raisoni Group cofounder Siddharth Raisoni, MSMEx cofounderAmit Kumar, among others, also participated in the round, the company said in a statement on Friday (February 23).

It is pertinent to note that Trust Fintech filed its draft red herring prospectus (DRHP) with NSE Emerge earlier this month. Its IPO will comprise fresh issuance of 62,82,000 equity shares. The fintech SaaS company is looking to get listed next month.

Founded in 1998, Trust Fintech primarily provides core banking SaaS products. It also offers fintech software solutions around ERP implementation and offshore IT services for the BFSI sector.

The company’s public listing ambitions are a byproduct of the expansion spree it has undertaken. At the time of filing its IPO papers, the Nagpur-headquartered company said it has been expanding operations in India and abroad while operating through its offices in Nagpur, Pune and Mumbai.