Reg-tech company TSS Consultancy has received an investment from WestBridge Capital at a valuation of Rs 900 crore. This is a maiden round raised by the Company. The company said that the funds raised will be used for research and development, particularly artificial intelligence, and to significantly scale its SaaS offerings, including the launch of new products in niche areas of financial crime. 

The company was founded in 2008 by Sagar, Sameer, and Chandrakant Tanna. Headquartered in Mumbai, it is a financial technology and compliance partner for over 350 institutions which include Banks, stockbrokers, stock exchanges, hedge funds, and other financial institutions across 3 countries India, South Africa, and the US with 400+ team strength. TSS Consultancy tech platform TrackWizz, one of its one-of-a-kind software product suites, is designed to empower the finance industry in fighting financial crime, money laundering, terrorist financing, etc.  

Sagar Tanna, founder and CEO of TSS Consultancy, says, “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 money laundering, KYC, Terrorist Financing, and Insider Trading.”  

Trackwizz platform under its AML solution provides relief to both small and large institutions by helping them prevent or report money laundering activities by using a risk-based approach.  

Deepak Ramineedi, Partner at WestBridge Capital, says, “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.” 

TSS, which has been profitable since its inception, has increased its revenues by 43 per cent in the last 12 months. The Company’s topline is Rs 60 crore. Trackwizz is now used by brokerage firms that generate about 70 per cent of the daily trading volume on both the major exchanges. Apart from the brokers, Trackwizz is also used by banks in the country, NBFC, and fintech companies. Currently with its clients like HDFC Securities, Axis Bank, and Zerodha, among others