Aspora, formerly known as Vance, has announced a massive $53 million Series B funding round led by Sequoia Capital and Greylock Partners. The London-based fintech, which caters specifically to Non-Resident Indians (NRIs), has now raised $93 million in just six months.
What makes Aspora stand out is its laser focus: providing fast, zero-fee remittances and full-stack banking services for Indians abroad. Currently active in the UAE, UK, and EU, the company plans to expand to the US, Canada, Australia, and Singapore by the end of 2025. Its transaction volume has already crossed $2 billion annually, and its user base is doubling quarter-on-quarter.
Aspora’s business model revolves around cross-border financial ease: users can open multi-currency accounts, send money home instantly, and access financial services tailored to Indian needs—all in one app.
CEO & co-founder Anirudh Narayan stated, “The Indian diaspora represents a $100B+ remittance opportunity annually. Yet the experience of banking and sending money back home is still stuck in the 2000s. We’re fixing that.”
Why This Matters:
As global Indian migration increases, Aspora is solving a billion-dollar pain point. Its rapid growth and investor backing show the immense potential in fintechs targeting underserved niche communities, especially with seamless, tech-first products.
