Abound, a cross-border fintech platform for Indians in the US, has raised $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 funding since its incubation at Times Internet, the digital arm of The Times of India Group.
The fresh funds raised will be used to expand its product offerings, strengthen its technology infrastructure, and scale its team across product development, engineering, and operations. The company is actively hiring to accelerate its roadmap and deliver on its ambitious goals.
Nishkaam Mehta, CEO of Abound, said, “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 manage their finances across borders—all in one app.”
Satyan Gajwani, Vice Chairman of Times Internet, said, “The Indian-American community is the wealthiest ethnic group in America with nearly double the household income of the average American home. Yet their unique needs remain deeply underserved. Abound is bringing a world-class digital product to this audience that can meet a wide variety of their daily financial needs.”
Founded in 2020 by Nishkaam Mehta, Abound is a premier app designed exclusively for the Indian community in the US. With Abound, users can seamlessly transfer money to India at highly competitive exchange rates, ensuring maximum value for their transactions.
Abound integrates remittances, rewards, and next-generation financial services into a single digital platform. It allows users to send, spend, save, invest, and borrow money across borders effortlessly.
Abound also presents a unique opportunity to earn exclusive cashback rewards on everyday grocery and shopping expenses.
Abound also leverages blockchain technology from NEAR to enhance scalability, security, and efficiency. The company plans to introduce innovative offerings such as high-yield savings products and cross-border credit solutions in the near future.
Since its inception, the platform has processed over $150 million in remittances and facilitated $87 million in gross merchandise value (GMV) through its rewards programme. With more than 500,000 users onboarded, Abound has recorded an impressive 50% month-on-month revenue growth over the past six months.
