Aspora, a London-based cross-border payments startup formerly known as Vance, has raised $93 million from Sequoia, Greylock, and others at a $500 million valuation. The Y Combinator-backed firm aims to expand into the U.S., Canada, Australia, and Singapore by the end of 2025.
Aspora, a cross-border payments and banking platform targeting immigrant communities, has raised $93 million across three funding rounds over the past nine months. The capital raise gives the London-headquartered fintech a post-money valuation of $500 million as it prepares for rapid international expansion.
Formerly known as Vance, Aspora was founded in 2022 by Stanford dropout Parth Garg. The company focuses on serving the fragmented financial needs of diaspora populations, starting with the Indian diaspora. Its platform integrates remittances, digital banking, investments, credit, and insurance, tailored for users navigating multiple geographies and currencies.
Backed by Y Combinator, Aspora raised a $5 million seed extension in September 2024, a $35 million Series A in December led by Sequoia Capital, and a $53 million Series B in May 2025, co-led by Sequoia and Greylock. Additional investors include Hummingbird Ventures, Quantum Light, and high-profile angels such as Balaji Srinivasan (ex-Coinbase), Sundeep Jain (ex-Uber), and Prasanna Sankar (Rippling).
This isn’t just about digital banking — it’s about the new opportunities Aspora can create for immigrants all over the world.”
Luciana Lixandru, Sequoia partner and newly appointed Aspora board member
Aspora has seen meteoric growth, with remittance volume surging from $400 million to over $2 billion in just six months. According to the company, its 250,000 users have saved over $15 million in fees through the platform.
Headquartered in London, with offices in Dubai and Bengaluru (Karnataka, India), Aspora currently operates in the UK, EU, and UAE. It plans to enter the United States market in July 2025, followed by Canada, Australia, and Singapore before the year ends.
Aspora’s roadmap includes launching new products that will enable users to bank, invest, and access credit or insurance across borders, further reinforcing its mission to build a full-stack financial solution for global immigrants.
