Abound
A super app where money, commerce and content transcend geographical boundaries enabling Indian expats to live their best lives without borders.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
* | $14.0m | Seed | |
| Total Funding | 000k | ||
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Abound is a financial super-app developed to address the specific financial needs of Non-Resident Indians (NRIs) living in the United States. Backed and initially incubated by The Times of India Group, the company operates as a digital-first platform combining remittance services with a rewards and cashback program. The company was founded in 2020 by Nishkaam Mehta, who serves as the CEO, and was formerly known as Times Club. The platform aims to simplify the complexities Indian expats face when managing finances across two countries, offering a unified app to send, spend, save, and invest across borders.
The core of Abound's business is its international money transfer service, which allows users to send funds to over 130 banks in India with competitive exchange rates and often zero transfer fees. Revenue is generated through these financial services and a tiered subscription model. While a basic account is free, users can upgrade to an "Elite" subscription for a monthly fee to access enhanced benefits like preferential remittance rates, faster transfers, and higher cashback percentages. The business model targets the affluent Indian American community, a demographic with high household incomes that the company identifies as underserved by traditional financial services.
The Abound super-app provides several key features. Its primary service is remittance, allowing fast and secure money transfers from the U.S. to India. A significant differentiator is its rewards program, which offers automatic cashback at thousands of Indian grocery stores and other popular retailers across the U.S. without needing to track receipts. The platform has also expanded into a business-to-business offering, "Abound for Business," which provides card-linked offers and marketing solutions for businesses aiming to connect with the Indian community in the U.S. In early 2025, Abound secured $14 million in a seed funding round led by the NEAR Foundation, marking its first external investment and signaling a move to leverage blockchain technology for enhanced scalability and security.
Keywords: NRI financial services, remittance to India, cashback app, Indian expats, US to India money transfer, financial super-app, cross-border payments, The Times of India, Nishkaam Mehta, Indian diaspora finance, card-linked offers, fintech, NEAR Foundation, international money transfer, rewards program, Indian grocery cashback, send money to India, expat financial management, digital remittance, Elite subscription