Abound Raises $14 Million to Reach Indian Expats in the US

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4 days ago

Summary

Abound raises $14M, aims to reach more Indian expats; offers rewards and cashback on services; plans to expand offerings and tech infrastructure.

Key Points

Abound has processed over $150 million in remittances with 500,000 monthly transacting users.
The app generates ad revenue from rewards and foreign exchange spread on money remittances.
Times Internet will continue to be the largest stakeholder in Abound, using its strategic assets to accelerate growth.

Why It Matters

Abound's focus on competitive exchange rates and rewards aims to 'super serve' Indian expats, offering a unique financial solution for this underserved market.

Author

Jagmeet Singh

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