It’s rare to meet a founder pursuing their life’s work with such clarity. Parth Garg is one of those founders.
Today, we’re excited to announce our investment in Aspora, co-leading the Series B just months after participating in the Series A. We doubled down on our investment after we saw Parth’s vision come to life – growing fivefold in just 6 months – while re-imagining how the Indian diaspora manages their money.
What struck us about Parth wasn’t just his vision, but his deep understanding of the problem. The Indian diaspora sends $125 billion home annually—more than Mexico, China, and the Philippines combined. But this community has been forced to navigate a labyrinth of expensive remittance services, paper-based banking processes, and disconnected financial products. As part of the Indian diaspora himself, Parth has experienced this friction firsthand and dropped out of Stanford to fix it.
Aspora is starting with India (the world’s largest diaspora community) but this is just the beginning of its mission to modernize how all immigrant populations worldwide manage their financial lives.
For non-resident Indians, managing money across borders is costly and outdated. Remittances come with 2–4% fees and days-long delays. Opening a bank account requires weeks of paperwork and notarization fees. And financial services are fragmented across providers. Starting with remittances, Aspora is fixing this. The company powers instant, transparent transfers using stablecoins—delivering a 10x improvement in speed, cost, and user experience. In fact, Aspora’s 250,000 users have already saved over $15 million in fees.
At Greylock, we’ve partnered with companies that have redefined financial services for consumers—from Wealthsimple transforming investing for Canadians, to Coinbase enabling global retail access to crypto, to PayJoy enabling finance for the next billion people. We see in Aspora the same pattern: identify an underserved but valuable demographic, build trust through a killer wedge product, then expand to own the full financial relationship.
As for what’s next for Aspora, the company is accelerating its expansion into the U.S., Australia, and Singapore. They’re also growing their suite of products to serve even more of the financial needs of immigrants worldwide. We’re privileged to partner with Parth and team as they modernize how immigrant populations worldwide manage their financial lives.
If you’re part of the Indian diaspora, check out what Parth and team are building.
If you want to help build the future of global finance, they’re hiring.
