Aspora: Cross-Border Banking Takes Center Stage

https://sequoiacap.com/article/aspora-spotlight/
  • Aspora captures 4% of all NRI remittances — 700K users, ~$4B/year.
    • Saved users $15M in fees as of Aug 2025.
    • Series A (2024) + co-led Series B (spring 2025) both from Sequoia.
  • Stablecoin rails (USDC) replace SWIFT — instant, no intermediaries.
    • USDC weekly volume: $5B (2022) → $23B (2024).
  • 70% of NRIs lack NRI-specific bank accounts; ignored by incumbents.
  • $656B global remittances (2023 World Bank); diaspora earns 10x home-country wages.
    • 281M diasporans worldwide = 3.6% of world population.
  • Wedge: 7 diasporas × 7 developed countries, Indians first.
    • Next: Philippines market, plus stock trading and real estate products.
  • Founder Parth Garg (Stanford, India→UAE) built after prior startup collapsed mid-2022.

Emma Starer Gross (Sequoia Capital) · 2025-09-30 · Read on sequoiacap.com

Type Link
Added Sep 30, 2025
Modified Apr 15, 2026
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