Aspora, the cross-border fintech startup formerly known as Vance, has successfully raised $50 million in Series B funding, led by Sequoia Capital and Greylock, with additional participation from Hummingbird, Quantum Light Ventures, and Y Combinator.
The round brings Aspora’s total funding to over $99 million, valuing the company at $500 million.
This investment marks Sequoia’s first deal in an Indian-origin startup since its June 2023 restructuring, with the funds being deployed via its US-based entity. In India, Sequoia now operates under Peak XV Partners, which continues to support promising ventures in the region.
“While multiple financial products for non-resident Indians exist, they often go unnoticed due to the lack of a digital journey tailored to their needs. They’re typically served the same banking interface as residents, making it difficult to access relevant offerings,” said Aspora CEO Garg.
About Aspora
Aspora is a global financial technology company focused on cross-border money transfers for non-resident Indians (NRIs). The platform allows users in the UK, UAE, Germany, and other countries to remit funds using Google exchange rates, helping customers avoid inflated forex fees.
To date, Aspora has processed over $2 billion in transactions, enabling users to save more than ₹150 crore (~$17.5 million) in foreign exchange charges.
The company’s vision is to democratize global remittances and digital banking for underserved diaspora communities with transparent pricing and a seamless, AI-powered financial experience.
