Abound, a fintech startup spun out of Times Internet in 2023, has raised $14 million in its first external funding round to scale its financial services platform for Indian immigrants in the United States. The round was led by NEAR Foundation, with participation from Circle Ventures, Times Internet, and other investors. The company plans to use the capital to expand its product offerings, grow its U.S. presence, and strengthen its technology infrastructure.
India remains the world’s largest recipient of remittances, pulling in over $129 billion in 2024—roughly 14.3% of global remittance flows, according to the World Bank. Abound aims to capture a growing share of this market by offering a mobile-first platform tailored specifically for the Indian diaspora. The app enables users to send money to India, earn rewards, and access exclusive cashback offers on services like groceries, OTT subscriptions, and live sports streaming.
What sets Abound apart is its focus on a high-income but underserved demographic. According to CEO Nishkaam Mehta, Indian immigrants in the U.S. have an average household income of $150,000—nearly triple the U.S. national average—yet still lack access to personalized financial products that reflect their cross-border needs. Abound is positioning itself as a one-stop platform for remittances, high-yield savings, India-linked investment products, and eventually cross-border credit solutions.
Originally launched as Times Club, the platform has already processed over $150 million in remittance volume and boasts more than 500,000 monthly transacting users. Since its spinout, the company has seen its revenue grow by 50% month-over-month, a signal of strong product-market fit within its niche.
While the U.S. remains its core market, Abound plans to expand to other countries with large non-resident Indian populations, including Canada, the UAE, and Singapore. By targeting a financially powerful but often overlooked segment of the global Indian diaspora, the startup is carving out a unique position in the increasingly competitive cross-border fintech space.
With fresh funding and growing momentum, Abound is poised to become a go-to financial platform for Indian expats looking to manage money, invest, and support their families back home.
