Financial Super-App Abound Raises $14 Million in Seed Funding

Connecting NRIs to India’s Financial Ecosystem

Abound, the financial super-app catering to Indians living in the US, has secured $14 million in seed funding. This investment will enable Abound to fast-track its goal of establishing a smooth financial link between non-resident Indians (NRIs) and India.

Investors and Growth

• The funding round was spearheaded by NEAR Foundation, with Circle Ventures and Times Internet joining in.
• Abound has successfully processed over $150 million in remittances and facilitated $87 million in rewards GMV.
• The company has experienced a 50% month-on-month revenue increase in the past 6 months, serving over 5 lakh users.

Catering to Unmet Needs

Satyan Gajwani, vice chairman of Times Internet, emphasized the distinct financial needs of the Indian American community, the wealthiest ethnic group in America. Despite their high household income, their specific financial requirements are frequently disregarded.

Abound is committed to addressing this gap by providing a top-tier digital product tailored to this audience.

Upcoming Initiatives

With this new funding, Abound plans to broaden its product offerings, strengthen its technology infrastructure, and expand its team across product, engineering, and growth.