London-based fintech startup Aspora, which develops banking and money transfer solutions for Indians living abroad, has raised $93 million across three funding rounds in the past six months to fuel its expansion into the EU, US, and Canada.
- Founded in 2022 by Parth Garg as Vance and rebranded to Aspora in April 2025, the company builds a modern financial ecosystem tailored to the global Indian diaspora.
- To date, over 250,000 NRIs use Aspora to send money securely and quickly across borders, processing more than $2 billion in volume and helping users save over $15 million in fees.
- Aspora offers seamless multi-country banking, investment opportunities, and access to credit and insurance products designed specifically for cross-border lives.
- Operating through regulated entities in the UK and Canada, and partnerships in the UAE, Aspora ensures user funds are protected throughout the payment process while serving hundreds of thousands of NRIs worldwide.
Details of the deal
- The 3 funding rounds include a €4.3 million Seed extension in September 2024 led by existing investor Hummingbird Ventures; a Series A €30.2 million round in December 2024 led by Sequoia Capital with participation from Greylock Partners; and a €45.7 million Series B in May 2025 co-led by Sequoia and Greylock, with additional backing from Quantum Light.
- Angel investors, including Balaji Srinivasan, Sundeep Jain, Prasanna Sankar, and Chad West, also joined the round.
" We were proud to be among Aspora's first believers by leading their Series A late last year and after seeing the team drive payment volume to $2B, we're excited to double down and co-lead their Series B as they scale and expand into the U.S., Canada and Europe," explains Luciana Lixandru, Partner at Sequoia Capital.
- The fresh capital will enable the firm to accelerate its expansion into new markets, including the US, Canada, Australia, and Singapore.
- In addition, the funding will support the development of innovative financial products tailored to the evolving needs of diaspora communities. The firm will also invest in building scalable financial infrastructure to provide secure, seamless, and efficient banking solutions for its users.
