London-based cross-border FinTech Aspora has raised 拢39m in a series B funding round led by Sequoia and Greylock.
The latest round takes the firm鈥檚 total capital raised to 拢63m across three funding rounds.
Aspora is creating a banking system helping the needs of Indians living abroad.
It will use the funds to focus on its US expansion in July, before looking at entering markets in Canada, Australia and Singapore before the end of the year.聽
The company will also look to develop products that serve its customers needs.
Its users will soon be able to bank seamlessly across multiple countries, invest in diverse asset classes and access credit and insurance products designed for their cross-border lives.
鈥淎spora is bringing diaspora banking into the modern age, enabling many millions to participate in the growth stories of their home countries,鈥� said Luciana Lixandru, partner, Sequoia Capital.
鈥淲e were proud to be among Aspora’s first believers by leading their Series A late last year and after seeing the team drive payment volume to $2bn, we’re excited to double down and co-lead their Series B as they scale and expand into the US, Canada and Europe.鈥�