Team Startupcity

• Aspora focuses on cross-border banking solutions for the Indian diaspora.
• The $93 million was raised through a seed extension, Series A, and Series B rounds.
• Backed by Sequoia Capital, Greylock, and prominent angel investors from the tech industry.

Aspora, a Y Combinator-backed startup that specializes in cross-border banking solutions for immigrant communities, has raised $93 million across three rounds of equity funding in the last nine months, valuing the company at $500 million post-money.

Started in 2022 by Stanford dropout Parth Garg, Aspora (previously Vance) hopes to address the varied financial needs of diaspora populations, starting with the Indian diaspora. The firm makes cross-border remittances, banking, investments, credit, and insurance easy for immigrants.

It raised the $93 million financing in a $5 million September 2024 seed extension led by Hummingbird Ventures, a $35 million December 2024 Series A led by Sequoia Capital alongside participation from Greylock, and a $53 million Series B last month co-led by Sequoia and Greylock with Quantum Light joining in.

This funding is one of Sequoia Capital's major investments in an India-linked global fintech startup that reflects growing investor interest in the developing cross-border financial infrastructure serving the Indian diaspora. None of these rounds have been publicly disclosed by Aspora. Prominent angel investors in the rounds include Balaji Srinivasan (ex-Coinbase CTO), Sundeep Jain (ex-Uber CPO), and Prasanna Sankar (Rippling co-founder).