Aspora Raises $53M Series B to Build Global Banking for Diaspora Communities

Aspora, a London-based fintech company focused on cross-border banking for diaspora populations, has raised $53 million in Series B funding, co-led by Sequoia Capital and Greylock, with participation from QuantumLight Ventures (Nik Storonsky's fund). This brings Aspora’s total funding to $93 million in just six months.

Previously known as Vance, the company is building a global financial ecosystem starting with non-resident Indians (NRIs), a group that makes up just 1% of India’s population yet contributes significantly to its economic fabric.

Fundraising timeline:

> Seed extension: $5M (Sept 2024, Hummingbird Ventures)

> Series A: $35M (Dec 2024, led by Sequoia and Greylock)

> Series B: $53M (May 2025, co-led by Sequoia and Greylock, with Quantum Light)

“We're just getting started. Our users deserve financial infrastructure that works across borders,” said Parth Garg, CEO and founder of Aspora, who dropped out of Stanford to start the company.

Global roadmap:

Currently live in the UK, UAE, and EU

US launch in July 2025

Expansion to Canada, Australia, and Singapore by year-end

Product vision:

Aspora is building tools to help diaspora users bank, invest, borrow, and insure across borders—bridging home and host countries with modern financial rails.

$2B+ in annualized payment volume

Backed by angels including Balaji Srinivasan, Sundeep Jain, Prasanna Sankar, and Chad West

Offices in London, Dubai, and Bengaluru

“Aspora is bringing diaspora banking into the modern age. This isn’t just digital banking. It’s about unlocking new economic opportunities for immigrants everywhere,” said Luciana Lixandru, Partner at Sequoia Capital.

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