Indian-American Fintech Platform Rises 14M in Seed Funding
Abound, which is a money platform catering to the Indian community in the US, has been able to raise 14 million in seed financing. The near-term funding was led by Near Foundation, alongside Circle Ventures, Times Internet, and others.
The firm has handled more than 150 million in remittances and had 87 million in gross merchandise value (GMV) on its rewards platform. Abound, with over 500,000 users, has recorded a 50% month-over-month revenue growth for the last half year.
This capital will support Abound's growth in product offerings, technology infrastructure, and hiring in product development, engineering, and marketing teams. The platform aims to launch new financial products for Indian Americans, such as remittances and cross-border financial products.
Abound also includes Near blockchain technology to increase scalability, security, and efficiency, with future plans to deploy highyield savings products and cross-border credit solutions.
The firm has handled more than 150 million in remittances and had 87 million in gross merchandise value (GMV) on its rewards platform. Abound, with over 500,000 users, has recorded a 50% month-over-month revenue growth for the last half year.
This capital will support Abound's growth in product offerings, technology infrastructure, and hiring in product development, engineering, and marketing teams. The platform aims to launch new financial products for Indian Americans, such as remittances and cross-border financial products.
Abound also includes Near blockchain technology to increase scalability, security, and efficiency, with future plans to deploy highyield savings products and cross-border credit solutions.
