How Aspora is redefining diaspora banking with transparency, trust, and technology

Published: Mon 24 Nov 2025, 7:17 AM

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Aspora founder Parth Garg is leading a new chapter in diaspora fintech - one built on trust, transparency, and technology.

Raised in Abu Dhabi and a former Stanford undergraduate, Garg founded Aspora to modernise cross-border banking for immigrant communities, starting with the global Indian diaspora.

“For most immigrants, sending money home is a deeply emotional act, but it's also one filled with friction,” Garg says.“It's often expensive, opaque, and inconvenient. I experienced this problem firsthand and wanted to build something that fixes it for good.”

That conviction led to the creation of Aspora, a fintech platform that enables zero-fee transfers at live market exchange rates, coupled with an intuitive digital onboarding process. Every aspect of the product, Garg explains, follows a“diaspora-first philosophy” - removing hidden costs and complexity from a service millions rely on each month.

Under Garg's leadership, Aspora has scaled rapidly. The company now serves over 400,000 users and processes more than $3 billion in annual remittance volume, up from $400 million just a few months ago. Users have already saved more than $25 million in fees by choosing Aspora.

“Our growth has been completely organic,” Garg notes.“People use Aspora once, see the difference, and stay. That's the best validation we can get.”

Earlier this year, Aspora raised $93 million from leading investors, including Sequoia Capital, Greylock, and Quantum Light, the venture fund established by Revolut CEO Nikolay Storonsky. Headquartered in London with offices in Dubai and Bengaluru, Aspora operates across the UK, UAE, EU, and the US with launches planned in Canada, Australia, and Singapore in the coming months.

The company has also announced upcoming products that will enable users to bank across multiple countries, invest in diverse asset classes, and access credit and insurance globally, helping immigrants manage their full financial lives from anywhere in the world.

Lead investor and board member Luciana Lixandru commented,“Aspora is bringing diaspora banking into the modern age, enabling expats to participate in the growth stories of their home countries. This isn't just about digital banking - it's about the new opportunities Aspora can create for immigrants all over the world.”

As Garg puts it,“We're not just building a remittance app; we're building the world's financial home for the global Indian.”

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