Cross-border digital payments startup Aspora raises $93 million from Sequoia Capital, Greylock and others

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Here’s a structured breakdown of the details regarding the startup Aspora, its founders, funding, and investors:

Aspora Overview

  • Startup: Aspora (formerly known as Vance)
  • Founder: Parth Garg
  • Headquarters: London

Funding Rounds

  1. First Institutional Round

    • Amount: $5.8 million
    • Investor: Hummingbird Ventures
    • Date: 2022

  2. Extension of First Round

    • Amount: $5 million
    • Date: September 2024

  3. Second Round

    • Amount: $35 million
    • Investors: Sequoia Capital, Greylock Partners
    • Date: Following the $5 million extension
  4. Third Round
    • Amount: $53 million
    • Investors: Sequoia Capital, Greylock Partners, Quantum Light, Balaji Srinivasan (angel investor), Sundeep Jain (angel investor), Prasanna Sankar (angel investor)
    • Date: Last month (specific date not provided)

Total Funds Raised

  • Total Amount: Approximately $98 million (over three funding rounds)

Valuation

  • Current Valuation: $500 million

Additional Information

  • Target Audience: Immigrant diaspora, specifically aiming to facilitate remittance services.
  • User Base: Around 250,000 users for sending money back to India.
  • Market Expansion Plans: Launching in the US in July, with plans for Canada, Australia, and Singapore by the end of the year.

Competition

  • Competitors: Remitly, Wize, and traditional players like Western Union.

Summary

Aspora has rapidly evolved into a significant player in the cross-border payments space, leveraging strong institutional backing and plans for continued growth in various international markets.

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2025-06-16 06:00:00