The remittance app raised $ 14 million in a seed round following investment from crypto heavyweights round ventures and the nearby foundation.
The app aims to become a financial bridge between non -Indian (NRIS) and India residents, and processed $ 150 million worth of remittances with nearly 500,000 monthly active users. Affound is eliminated by the digital arm of The Times of India Group, one of the largest news agencies in the country.
“Indians in America have a unique financial reality – one that covers the two countries, two economies, and two currencies. However, the financial services available today are not designed for their needs,” Nishkaam Mehta, Appound CEO, said in a statement.
The investment will be used to measure the business by renting some basic duties and enhancing its technology infrastructure, a press release said.
Jeremy Fox-Geen, CPO’s CFO, added in a statement that the stablecoins and digital payment infrastructure change in global finances, especially in the Diaspora communities.
The Circle is the USDC, a Stablecoin who has been a US dollar with a market cap of $ 59 billion. A 2024 Report It was released that the StableCoin sector repaired $ 10.8 trillion worth of transactions in 2023, of which $ 2.3 trillion was associated with cross-border payments and remittances.
