Abound Secures USD 14 Mn Seed Funding to Bridge Financial Gap for NRIs It plans to use the funds to expand its product offerings, enhance its technology infrastructure, and grow its team across product, engineering, and operations.
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Abound, a finance app designed for Indians residing in the US, has raised USD 14 million in a seed funding round led by the NEAR Foundation. The round also saw participation from Circle Ventures, Times Internet, and other prominent investors.
This marks the company's first external investment since its incubation at Times Internet, the digital arm of The Times of India Group. The fresh capital is expected to fuel Abound's ambitious plans to serve the global Indian diaspora.
"With the fresh funds, Abound plans to accelerate its mission of creating a seamless financial bridge between the non-resident Indians (NRIs) and India," the company said in a statement.
Founded with a vision to simplify financial services for NRIs, Abound offers a suite of digital tools to manage money, investments, and cross-border transactions. The company now aims to deepen its offerings and strengthen its technology backbone.
"It plans to use the funds to expand its product offerings, enhance its technology infrastructure, and grow its team across product, engineering, and operations," the company added.
While global remittances continue to grow, NRIs often face hurdles in accessing financial services across borders. Abound aims to remove these barriers by creating an all-in-one platform tailored to the unique needs of the Indian diaspora.
"Indians in America have a unique financial reality—one that spans two countries, two economies, and two currencies. Yet, the financial services available today weren't designed for their needs…We're building a unified platform where our community can earn rewards, seamlessly send money home, and ultimately send, spend, save, invest, and borrow across borders—all in one app," said Nishkaam Mehta, CEO of Abound.
The funding marks a significant step forward in the company's journey to become a trusted financial partner for millions of Indians living abroad.
By focusing on product innovation and customer experience, Abound hopes to redefine how NRIs manage their money between the US and India, and eventually in other regions as well.
