Aspora gears up for US launch in July: global expansion set for 2025

Aspora, having raised $93 million and processed over $2 billion in remittances, is poised to disrupt cross-border banking with a US launch next month and plans to enter Canada, Australia, and Singapore by year-end, serving 250,000 users and saving millions in fees.

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Updated 2h ago
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Sources: MoneycontrolM
Aspora, a fintech startup founded in 2022 by Stanford dropout Parth Garg, is gearing up for its U.S. launch in July 2025 as part of a broader global expansion strategy. The company, which focuses on cross-border banking solutions for immigrant communities, has rapidly grown its user base to 250,000 users and currently operates in the UK, UAE, and EU.

Aspora has raised a total of $93 million in funding over the past nine months, including a $5 million seed extension, a $35 million Series A led by Sequoia Capital, and a $53 million Series B co-led by Sequoia and Greylock with Quantum Light Ventures also participating. This funding has valued the company at $500 million post-money.

The startup has seen explosive growth in transaction volume, surging from $400 million to over $2 billion in processed remittances within six months. Aspora primarily serves the Indian diaspora, facilitating remittances and saving users over $15 million in fees.

Looking ahead, Aspora plans to expand beyond the U.S. to Canada, Australia, and Singapore by the end of 2025, aiming to address the fragmented financial needs of immigrant communities worldwide.

Parth Garg, founder: "We are committed to reimagining banking for immigrants, making cross-border transactions seamless and affordable."

Aspora’s rapid growth and significant funding underscore its potential to disrupt traditional remittance and banking services for diaspora populations globally.
Sources: MoneycontrolM
Aspora, a fintech startup focused on immigrant banking, plans its U.S. launch in July 2025, following rapid growth and $93 million raised in funding. Founded in 2022, it serves 250,000 users across the UK, UAE, and EU, with global expansion to Canada, Australia, and Singapore planned.
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The Headline

Aspora's rapid growth and US launch plans

Key Facts
  • Aspora's transaction volume surged from $400 million to over $2 billion in the last six months, demonstrating rapid growth in processed remittances.MoneycontrolM2
  • Aspora currently serves 250,000 users and has saved them over $15 million in fees through its remittance services.M
  • Aspora plans to launch in the US in July 2025 and expand its services to Canada, Australia, and Singapore by the end of the year.Moneycontrol1
Aspora is currently active in the UK, the UAE, and the EU. It plans to launch in the US in July and expand to Canada, Australia, and Singapore by the end of the year.
Moneycontrol
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Founded in 2022, Aspora serves 250,000 users, facilitating easy remittances to India and saving users over $15 million in fees.
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Key Stats at a Glance
Transaction volume growth
$400 million
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User base
250,000 users
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Fees saved by users
$15 million
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Background Context

Aspora's founding and funding milestones

Key Facts
  • Aspora was founded in 2022 by Parth Garg, who dropped out of Stanford University to build the company.MoneycontrolM2
  • Aspora raised $35 million in Series A funding led by Sequoia Capital with participation from Greylock.Moneycontrol1
  • Aspora raised $53 million in Series B funding co-led by Sequoia and Greylock, with additional backing from Quantum Light Ventures.MMoneycontrol2
Key Stats at a Glance
Total funding raised
$93 million
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