Aspora Raises $50M, Plans US Expansion

Aspora, a London-based fintech focused on cross-border financial services for non-resident Indians (NRIs), has raised a total of $93 million across three funding rounds, including a $50 million Series B led by Sequoia Capital and Greylock Partners at a $500 million valuation. Founded in 2022 by Parth Garg and formerly known as Vance, Aspora has grown its remittance volume to over $2 billion annually and serves more than 250,000 users, primarily in the UK, UAE, and EU. The company claims to have saved its customers over $15 million in fees compared to traditional providers. Aspora plans to expand into the US in July, with additional launches in Canada, Australia, and Singapore by the end of the year. Its roadmap includes introducing banking, investment, credit, and insurance products tailored to global diaspora needs. The funding round reflects strong investor confidence in Aspora amid India’s growing remittance market.