Aspora
Category: AI in Fintech
A financial super-app building cross-border banking and remittance solutions for the global Indian diaspora. Aspora was founded in 2022. The company is led by Parth Garg. Based in London, United Kingdom (Headquarters). Team size: 101-500. Total funding raised: $99 million. Latest round: Series B. Key investors include Sequoia Capital, Greylock, Y Combinator, Quantum Light Ventures, Hummingbird Ventures, Soma Capital, Global Founders Capital.
- Founded
- 2022
- Headquarters
- London, United Kingdom (Headquarters)
- Team size
- 101-500
- Total funding
- $99 million
Value proposition
To provide fast, transparent, and low-cost cross-border financial services, including remittances at 'Google rates', and a comprehensive suite of banking products tailored to the needs of immigrants.
Products and solutions
Cross-border remittances at Google exchange rates with upfront dynamic fees, partner-bank NRE/NRO account services, with accounts held by Shivalik Small Finance Bank, Aspora Bridge for cross-country net-worth aggregation and account/transfer document preparation. Broader banking and investment products remain part of the expansion roadmap.
Unique value
Aspora is building a vertically integrated financial platform specifically for the large and underserved Indian diaspora, moving beyond a single product to own the full financial relationship.
Target customer
Non-resident Indians (NRIs) and the global Indian diaspora.
Industries served
Financial Services, Banking, Remittances
Technology advantage
Its core advantage is a modern infrastructure leveraging stablecoins to offer instant, transparent, and low-cost payments, providing a significant improvement in speed and user experience over traditional services.
How they differentiate
Aspora differentiates through financial products tailored to the Indian diaspora and transfers at Google exchange rates. Transfer fees are dynamic and disclosed upfront in the app; transfers are not universally fee-free.
Main competitors
Wise, Remitly, Revolut, Abound, Traditional banks (e.g., HDFC, ICICI)
Key partnerships
Shivalik Small Finance Bank holds accounts offered through Aspora NRI banking. Lulu International Exchange LLC provides UAE payment services. Investor backing includes Sequoia Capital, Greylock, and Quantum Light Ventures.
Notable customers
Not publicly disclosed
Major milestones
Raised $93 million across three funding rounds in nine months., Achieved a $500 million valuation., Expanded user base to over 1 million., Secured investment from top-tier VCs like Sequoia and Greylock., Launched in the US market in July 2025., Received Bank of Lithuania approval to acquire control of licensed electronic money institution UAB Hokodo in July 2026., Announced Vilnius as its European Union business base in August 2026.
Growth metrics
Grew to over 1 million users and increased annual remittance processing volume from $400 million to over $2 billion.
Market positioning
Positioned as a specialized neobank or 'financial super-app' for a high-value immigrant community, aiming to be the primary cross-border financial platform for its users.
Geographic focus
Currently operates in the UK, UAE, EU, and US. Expanding to Canada, Australia, and Singapore.
Patents and IP
No public patents found.
About Parth Garg
Parth Garg is the Founder and CEO of Aspora, a fintech company building a financial super-app for the global Indian diaspora. He founded the company in 2022 after dropping out of Stanford University, where he was studying Physics. Parth has led Aspora through multiple funding rounds, raising over $93 million from prominent investors like Sequoia Capital and Greylock. His vision for Aspora stems from his personal experiences with the complexities of cross-border finance.
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Official website: https://www.aspora.com