Aspora raises $93 Million from Sequoia, Greylock et al. 

Cross-border fintech startup Aspora, formerly known as Vance, has raised $93 million across three equity rounds. The company boasts a valuation of $500 million and plans to enter the US market while expanding operations in Canada, Australia and Singapore by the end of the year. Expansion in operations with new offerings is also on the table. Prominent angel investors in these rounds include Balaji Srinivasan, Sundeep Jain, and Prasanna Sankar.

Major Backers and Funding Details

Aspora has had strong backers throughout its fundraising journey with major investments over the last nine months:

$5 million seed extension in September 2024 led by Hummingbird Ventures

• $35 million Series A in December 2024 led by Sequoia Capital, with participation from Greylock
• $53 million Series B in May 2025, co-led by Sequoia and Greylock, with additional investment from Quantum Light

The funding has attracted prominent angel investors such as Balaji Srinivasan (ex-CTO, Coinbase), Sundeep Jain (ex-CPO, Uber), and Prasanna Sankar (co-founder, Rippling).

Mission and Market Focus

Founded in 2022 by Stanford dropout Parth Garg, Aspora aims to simplify financial services for immigrant communities, initially targeting the Indian diaspora. Its platform offers a suite of solutions including:

• Cross-border remittances
• Banking services
• Investment access
• Credit and insurance options

Explosive Growth and Future Plans

In the past six months, Aspora has scaled significantly, processing over $2 billion in remittances, up from $400 million. The company claims its 250,000 users have saved $15 million in fees using its services.

Currently operational in the UK, UAE, and EU, Aspora is headquartered in London, with offices in Dubai and Bengaluru. The company is gearing up for a July 2025 launch in the US, followed by entry into Canada, Australia, and Singapore by year-end.

Aspora is also preparing to introduce new offerings that will allow users to bank globally, invest across borders, and access international credit and insurance products.

What The Company Has To Say

Sequoia Capital partner Luciana Lixandru, who has joined Aspora’s board, emphasized the company’s broader vision beyond digital banking. She noted, “This isn’t just about digital banking, it’s about the new opportunities Aspora can create for immigrants all over the world”.

Outlook

Aspora’s $93M raise, driven by Sequoia and Greylock, reflects surging investor confidence in its mission to modernize cross-border finance for immigrants, fueling rapid expansion and global product rollouts.

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