Reg-Tech Platform TSS Trackwizz Secures Significant Investment for Expansion
TSS Consultancy, a reg-tech firm that operates TrackWizz, has made headlines by receiving an investment from WestBridge Capital at a valuation of INR 900 crore.
As per the startup, the freshly raised funds will be used for research and development, particularly artificial intelligence.
A part of the raised funds will be used to scale SaaS offerings, including the launch of new products in niche areas of financial crime.
TSS Trackwizz | Solutions Provider for the Financial Industry
Co-founded by Sagar Tanna, Sameer Tanna, and Chandrakant Tanna, TSS Consultancy through its tech platform, TrackWizz, helps financial institutions fight financial crime, specifically money laundering and surveillance.
It offers cost-effective products that enable businesses to get complete control of the back office and middle office-related functions. The firm also offers assistance in crucial compliance-related areas like adherence to regulations by SEBI, RBI, and other statutory bodies like NSE, BSE, etc.
Speaking about the development, Sagar Tanna, founder and CEO of TSS Consultancy, highlighted the government’s role in uprooting unlawful financial activities from our systems.
Tanna, while highlighting his firm’s mission is to help every financial institution, added,
“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.”
Statement from the Investor
Commenting on the development, Deepak Ramineedi, partner at WestBridge Capital, said,
“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.”
With its cutting-edge technology solutions, TrackWizz makes operations efficient and helps businesses grow while keeping the economy crime-free. As per the startup, it is used by brokers and top banks in India, NBFC, and fintech companies.
With clients including HDFC Securities, Axis Bank, and Zerodha, among others, Trackwizz is dedicated to serving the finance industry focused on fighting financial crime.
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