A

Aspora

Cross-border payments platform with regulated entities

Overview

Aspora enables international money transfers by connecting individuals and businesses to regulated financial entities for cross-border payments and remittances. It routes transactions through trusted partners to ensure security and regulatory compliance, offering real-time exchange rates and transparent, competitive fees, while not holding client funds directly. It differentiates itself by using regulated routing through identified financial institutions and by giving users access to over 1100 Indian mutual funds, particularly for transfers to India. The goal is to provide secure, compliant cross-border payments with clear pricing and minimal hidden charges.

YC CompanySignificant Headcount Growth

Work here?Claim your company

About Aspora

Simplify's Rating
Why Aspora is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

FintechFinancial Services

Company Size

201-500

Company Stage

Series B

Total Funding

$98.9M

Headquarters

San Francisco, California

Founded

2022

Get referred to Aspora

See people who can refer or advise you

Simplify Jobs

Simplify's Take

What believers are saying

  • Aspora raised $93 million by June 2025, funding aggressive expansion and hiring.
  • It plans up to 100 Vilnius hires over three years, signaling European scaling.
  • The UK, UAE, US, and EU footprint gives immediate corridors for remittance cross-sell.

What critics are saying

  • Western Europe expansion depends on regulator trust; one AML failure freezes the EMI instantly.
  • Revolut, Wise, and Remitly can crush Aspora on pricing, distribution, and compliance spend.
  • Aspora's EU strategy concentrates risk in Vilnius; delayed passporting stalls growth through 2027.

What makes Aspora unique

  • Aspora owns a Lithuanian EMI after Bank of Lithuania approval on July 24, 2026.
  • The company targets Indian diaspora remittances, not generic payments, with cross-border banking products.
  • Aspora says it served over one million users and processed over $2 billion volume.

Help us improve and share your feedback! Did you find this helpful?

Funding

Total Funding

$98.9M

Above

Industry Average

Funded Over

5 Rounds

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.
Series B Funding Comparison
Above Average

Industry standards

$35M
$45M
$53M
$65M
$100M

Benefits

  • Company Equity
  • Flexible Work Hours

Growth & Insights and Company News

Headcount

6 month growth

5%

1 year growth

9%

2 year growth

0%
Sorainen
Jul 27th, 2026
Aspora acquires majority stake in Lithuanian e-money institution UAB Hokodo

Aspora, a US-based fintech company, has acquired a controlling stake in UAB Hokodo, a Lithuanian electronic money institution. The Bank of Lithuania approved the acquisition, which gives Aspora more than 50% of Hokodo's share capital and voting rights. Aspora provides cross-border financial services to customers in the United States, United Kingdom, and United Arab Emirates. UAB Hokodo is licensed by the Bank of Lithuania and offers digital payment solutions. The acquisition supports Aspora's expansion in Europe and strengthens its position in the regulated financial services sector. Sorainen advised Aspora on the transaction, including legal due diligence, transaction structuring, and regulatory approvals.

Quanmeishe
Dec 25th, 2025
Sequoia-backed fintech Aspora to introduce bill payment feature for Indian diaspora

Sequoia-backed fintech Aspora to introduce bill payment feature for Indian diaspora. Sequoia-backed fintech platform Aspora, which enables the Indian diaspora to send money back to India, is set to launch a new feature that allows users to pay bills. This means non-resident Indians (NRIs) can now pay utility bills or recharge their family members' mobile prepaid plans without any hassle. The startup has integrated with the Bharat Bill Payment System (BBPS) through Yes Bank's domestic pipeline, offering payment options for over 22,000 billers in India. This includes electricity providers, broadband companies, and major banks for loan payments. Aspora is not charging any fees for these bill payments and offers users the best exchange rates to make direct payments in foreign currency. Aspora founder and CEO Parth Garg mentioned in an interview with TechCrunch that this new feature will increase user engagement and create long-term loyalty. The startup has already seen positive results from testing this feature with a group of users and plans to expand it to the U.S. and UAE markets. Aspora, which raised $50 million in Series B funding led by Sequoia, has amassed 800,000 customers, processed $4 billion in transactions, and saved users $25 million in transfer fees. The company aims to introduce NRE and NRO accounts for managing foreign and domestic income next year.

Global Legal Chronicle
Jul 23rd, 2025
Aspora Secures $53M in Series B

Aspora, a global fintech company, has successfully raised $53 million in a Series B funding round. The company, which specializes in cross-border payments for the Indian diaspora, was advised by Orrick during this financing round.

CIO Insider India
Jun 17th, 2025
Aspora Raises $ 93 Million in Funding Round

Y Combinator-backed cross-border payments startup Aspora has raised $93 million over three equity funding rounds between September 2024 and May...

TechCrunch
Jun 16th, 2025
Aspora gets $50M from Sequoia to build remittance and banking solutions for Indian diaspora | TechCrunch

Aspora (formerly Vance) is trying to build a verticalized financial experience for the Indian diaspora by keeping convenience at the center.

Recently Posted Jobs

Sign up to get curated job recommendations

Aspora is Hiring for 11 Jobs on Simplify!

Find jobs on Simplify and start your career today

Don't see your dream role? Check out thousands of other roles on Simplify. Browse all jobs