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Times Internet spinout Abound raises $14M to let more Indian Americans send money home
Abound, a go-to remittance app that was spun off by India's Times Internet, has raised $14 million in a seed round.
Mehta, who worked at Hulu as head of its mobile strategy and growth for more than four years, joined Times Internet in 2019 after meeting its vice chairman Satyan Gajwani to create a “super app” for non-resident Indians. Initially named Times Club, Abound allows users to send money to India, earn rewards, and get cashback on services including live sports streaming, grocery shopping, and OTT subscriptions. But Mehta thinks Abound has an edge as it “super serves” users by offering competitive exchange rates as well as rewards and cashback at about 5,000 Indian grocery stores and access to live-streamed cricket — by far the most popular sport in India.
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