London fintech for immigrant communities Aspora raises $53 million
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Formerly known as Vance, the new capital injection was co-led by Sequoia and Greylock, with Nik Storonsky's Quantum Light Ventures also contributing to the round.
The latest raise marks the culmination of three rounds of funding over the past six months to the tune of $93 million:
In a blog post announcing the funding, the firm says that over 250,000 non-resident Indians now send money with Aspora: "We have processed over $2B in volume—a five-fold increase from the $400M we were handling just six months ago. Most importantly, our users have saved over $15M in fees that would have otherwise gone to traditional remittance providers.
From its headquarters in London and offices in Dubai and Bengaluru, the firm is currently serving users across the UK, UAE and EU, with plans to launch in the United States this July followed by Canada, Australia and Singapore before the end of the year.
Aspora is also expanding beyond remittances to build a suite of new products to help users bank seamlessly across multiple countries, invest in diverse asset classes, and access credit and insurance services across borders.
Parth Garg, founder and CEO, says: 'The latest fundraise allows us to accelerate our mission of building a truly global financial ecosystem for diaspora communities. We're just getting started—our users deserve modern financial infrastructure that works across borders.'
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Scotsman
7 days ago
- Scotsman
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Daily Mirror
08-08-2025
- Daily Mirror
MIKEY SMITH: 7 wild Donald Trump moments as he warns of 'great depression' unless he gets his way
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Reuters
06-08-2025
- Reuters
AI accounting startup Rillet raises $70 million in Andreessen Horowitz, ICONIQ-led round
Aug 6 (Reuters) - Rillet, a startup developing AI-powered accounting software, has raised $70 million in a fundraise co-led by venture capital firms Andreessen Horowitz and ICONIQ in a bid to disrupt an industry dominated by tools from Oracle and Microsoft. The company did not disclose the valuation it secured in the Series B funding round. A source close to the deal said the startup was valued at around $500 million. The round was joined by Sequoia, Oak HC/FT and FOG Ventures, the company said on Wednesday, and comes just over two months after Rillet raised $25 million, bringing its total funding to more than $100 million. Founded by Nicolas Kopp, former U.S. head of digital bank N26, Rillet makes AI-powered ledger software that helps companies automate accounting tasks. Its more than 200 customers include AI-assisted coding tool Windsurf and e-commerce marketing platform Postscript. Rillet said its platform allows finance teams to close books in hours rather than weeks thanks to integrations with systems from companies such as Salesforce, Stripe and Brex. Kopp told Reuters in an interview the startup aims to replace legacy systems that function as "dumb databases" by offering a platform that pulls in data directly and uses AI to automate tasks and deliver real-time insights. The efforts have helped the startup double its annual recurring revenue over the past 12 months and led to tie-ups with accounting firms such as Armanino and Wiss. Rillet plans to use the funds to speed up development of the platform and build out its team, including by hiring more engineers. Andreessen Horowitz general partner Alex Rampell and ICONIQ general partner Seth Pierrepont are joining the company's board as part of the fundraise.
