India's Rapid Remittance Growth

This is a Aspora news story, published by TechCrunch, that relates primarily to Vance news.

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remittance

TechCrunch

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World

Aspora gets $50M from Sequioa to build remittance and banking solutions for Indian diaspora | TechCrunch

Summary

Nutrition label

81% Informative

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

The company announced today it has raised $50 million in Series B funding, co-led by Sequoia and Greylock .

The startup has grown the volume of remittances by 6x — from $400 million to $2 billion in yearly volume.

Sequoia ’s Luciana Lixandru is confident that Aspora ’s execution speed and verticalized solution will give it an edge. “Speed of execution, for me, is one of the main indicators in the early days of the future success of a company,” she told TechCrunch over a call. “ Aspora moves fast, but it is also very deliberate in building corridor by corridor, which is very important in financial services.”.

VR Score

Informative language

Neutral language

Article tone

semi-formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful