Aspora

Aspora is a London-based fintech company building the financial home for the global Indian diaspora. Founded in 2022 by Parth Garg under the name Vance, and rebranded to Aspora in April 2025, the company provides non-resident Indians (NRIs) with zero-fee international money transfers at live market exchange rates, alongside a growing suite of banking, investment, and payments products designed for people managing their financial lives across borders.

The problem Aspora addresses is structural. Despite the 15 million-strong Indian diaspora sending over $125 billion home annually — more than Mexico, China, and the Philippines combined — the financial infrastructure serving NRIs remains fragmented, expensive, and paper-heavy. Legacy remittance providers charge margin-on-spread fees; opening an NRI bank account can take weeks of paperwork and notarised documents; and financial products are siloed across providers with no unified digital experience. For immigrants who live, earn, and invest across multiple countries simultaneously, no platform had been built for the transnational lives they actually lead.

Aspora's platform enables instant transfers at the real interbank exchange rate, with no hidden fees and a flat charge for UK transfers. The company uses stablecoins for settlement, delivering 10x improvements in speed and cost versus conventional remittance rails. Beyond transfers, Aspora is expanding into bill payments via India's Bharat Bill Payment System, fixed deposit accounts, NRE/NRO bank accounts openable in minutes, and credit and insurance products — building toward a comprehensive cross-border banking stack for the diaspora. The platform is live in the UK, UAE, EU, and US, with Canada, Australia, and Singapore launches planned.

Aspora has raised $93 million across three rounds in under eight months, including a $53 million Series B co-led by Sequoia Capital and Greylock Partners in June 2025, with participation from Quantum Light Ventures (Revolut CEO Nik Storonsky's fund). The company processes close to half a billion dollars in monthly volume, has surpassed 800,000 active users, and is valued at $500 million. Sequoia led both the Series A and co-led the Series B — a rare signal of sustained conviction in both the founding team and the market opportunity.