Aspora Raises $93M from Sequoia, Greylock to Build Cross-Border Banking for Immigrants; Valuation Hits $500M
- ByStartupStory | June 17, 2025
London-based cross-border fintech startup Aspora (formerly Vance), founded by Parth Garg, has quietly raised $93 million across three funding rounds over the last nine months, securing a post-money valuation of $500 million. The rounds include a $5M seed extension (led by Hummingbird Ventures), a $35M Series A (led by Sequoia Capital), and a $53M Series B (co-led by Sequoia and Greylock, with Quantum Light also participating).
Backed by Y Combinator, Aspora is building a unified financial infrastructure for immigrant communities, starting with the Indian diaspora. Its offerings span remittances, banking, credit, investments, and insurance, helping users move and manage money across borders seamlessly. The platform has processed over $2 billion in remittances and claims to have saved its 250,000 users $15 million in fees.
Sequoia’s Luciana Lixandru, now on Aspora’s board, said the firm saw something special in Garg’s vision from their first meeting in a Dubai hacker house. Prominent angels such as Balaji Srinivasan, Sundeep Jain, and Prasanna Sankar also joined the cap table.
Aspora currently operates in the UK, EU, and UAE, with launches in the US, Canada, Australia, and Singapore planned by year-end. The startup is also preparing to roll out cross-border credit, insurance, and investment products as it scales globally.
This investment signals renewed VC interest in building next-gen fintech for global Indians and the broader immigrant economy.
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