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Aspora gets $50M from Sequoia to build remittance and banking solutions for Indian diaspora
India has been one of the top recipients of remittances in the world for more than a decade. Inward remittances jumped from $55.6 billion in 2010-11 to
It raised $35 million in Series A funding last December — which was previously unreported — led by Sequoia with participation from Greylock, Y Combinator, Hummingbird Ventures, and Global Founders Capital. The company announced today it has raised $50 million in Series B funding, co-led by Sequoia and Greylock, with Hummingbird, Quantum Light Ventures, and Y Combinator also contributing to the round. “We want to use remittances as a wedge and build all the financial solutions that the diaspora needs, including banking, investing, insurance, lending in the home country, and products that help them take care of their parents,” he told TechCrunch.
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