In addition to Sequoia and Greylock, Aspora’s Series B funding round also saw participation from Hummingbird, Quantum, Light Ventures, and Y Combinator. According to the startup, the round values the company at USD 500 million, with it raising over USD 99 million in funding to date.
Aspora has started providing remittances for NRIs in the UK in 2023, with the move following the company’s decision to expand its presence in more markets, including Europe and the United Arab Emirates. Also, the company charges a flat fee for money transfer and delivers a competitive rate. Currently, Aspora enables customers to invest in mutual funds in India, with the company marketing its exchange rates as ‘Google rate’.
Furthermore, supported by the newly acquired capital, Aspora seeks to roll out its services in the US, one of the largest remittance corridors to India, in July 2025. Additionally, the startup intends to scale its operations to Canada, Singapore, and Australia by the fourth quarter of 2025. In the upcoming period, Aspora will introduce new products to provide more services to its customers. For example, in June 2025, the company aims to roll out fixed deposit accounts for non-resident Indians that enable them to park money in foreign currency. By the end of the year, the startup plans to introduce a full-stack banking account for NRIs, which usually takes days for customers to open.
Besides banking, Aspora seeks to roll out a product that would support NRIs to take care of their families back home by providing regular medical checkups, emergency care coverage, and concierge services for other assistance.
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