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Abound raises $14 Mn in a seed funding round led by NEAR Foundation
Category: Funding News, Posted on: 28/03/2025 , Posted By: Ishika Agarwal
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Abound has been founded by Nishkaam Mehta. Abound is a unified platform where the community can earn rewards, send money home, and manage their finances—allowing users to send, spend, save, invest, and borrow across borders, all in one app. It selected NEAR as its blockchain foundation for its industry-leading scalability, efficiency, and resilience, enabling a seamless experience while maintaining the security and transparency users deserve.

Abound, the financial super-app designed for Indians in the US, has raised $14 million in a seed funding round led by NEAR Foundation, with participation from Circle Ventures, Times Internet, and others. This round marks Abound’s first external investment since its incubation at Times Internet, the digital arm of The Times of India Group. In July 2023, the startup raised $10 million from the Times Group to expand its remittance offering. The fresh funds will be utilized to expand its product offerings, enhance technology infrastructure, and grow the team across product, engineering, and growth, Abound said in a press release.

Abound claims to have already processed over $150 million in remittances and facilitated $87 million in rewards GMV, demonstrating significant traction. It also reports 50% month-on-month revenue growth over the past six months, with a user base exceeding 500,000. Abound aims to redefine what it means to be a financial platform for the Indian diaspora. While traditional banking services treat cross-border finance as an afterthought, Abound integrates remittances, rewards, and next-gen financial services into a digital-first consumer experience.

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