This Article was fact checked and last updated for accuracy on November 12, 2025 by Mani Karthik
When I was in San Francisco back in 2015, sending money home was a monthly headache.
$25 fees from Bank of America. Hidden markups that ate into my hard earned dollars. Days of waiting for the transfer to reach mom’s account.
Fast forward to today. My friend Rajesh in London just told me about Aspora. A Y Combinator backed startup that’s changing how NRIs send money to India.
After digging deep into their model, talking to actual users, and comparing them with traditional options, here’s my honest take.
💡 Bottom Line: If you’re an NRI sending money regularly, Aspora deserves serious attention.
What Exactly Is Aspora?
Aspora started as Vance in 2022. Founded by Parth Garg and team as part of Y Combinator’s W22 batch.
They raised $50 million in Series A funding led by Sequoia Capital. That’s serious money backing a simple idea.
The company processes over $2 billion in yearly volume and serves more than 600,000 NRI customers.
Their pitch is simple. Live Google exchange rates. Transparent fees. Lightning fast transfers.
No more getting ripped off by traditional banks or even services like Wise or Remitly.
Think about this. When I moved money from my Wells Fargo account in 2016, I was losing almost $50 per transfer in hidden fees alone.
Aspora claims to eliminate that pain completely.
How Aspora Actually Works
| Traditional Banks | Wise/Remitly | Aspora | Winner |
|---|---|---|---|
| $25-45 fee | $5-15 fee | $2.99-3 flat fee | Aspora |
| 2-5% markup | Mid-market rate | Google rate | Tie |
| 3-5 days | 1-2 days | 30 minutes – 24 hours | Aspora |
The app uses what they call the “Google rate.” That’s the mid-market exchange rate you see when you search “USD to INR” on Google.
No hidden markup. No surprise deductions.
Their fee structure is refreshingly simple. Fixed flat fee based on your country. Often capped at $3 or £3.
Your first transfer? Completely free from most countries.
Quick Reality Check:
✅ App-only service (no website transfers)
✅ Supports 3,000+ Indian banks
✅ Military-grade encryption
✅ FCA regulated in UK
The catch? They only do India transfers for now. If you’re sending money elsewhere, you’ll need other options.
When I was researching the best ways to transfer money from USA to India, speed and cost were my top priorities. Aspora nails both.
My Testing Experience (Through User Reports)
Since I’m based in India now, I couldn’t test this personally. But I reached out to 12 NRIs across UK, UAE, and US who’ve used Aspora.
Here’s what they told me.
Priya from London: “Sent £1,000 last month. Paid £3 fee. Money reached my dad’s HDFC account in 45 minutes. The exact rate Google showed.”
Vikram from Dubai: “Used to pay AED 25 with conventional banks. Aspora charged me nothing for first transfer. Now I pay AED 11 maximum.”
Sneha from New York: “The app is so simple my mom could use it. But customer support takes time to respond sometimes.”
The consensus? Great rates and speed. Customer service needs work.
📊 Trust Factor Analysis:
Trustpilot rating of 4.4 stars based on 1,116 reviews. That’s impressive for a financial service.
Users consistently praise speed and rates. Common complaints are about delayed customer support responses.
Remember my article about hidden forex fees? Aspora seems to address most of those concerns transparently.
The Competition Reality Check
| Service | Fee Structure | Exchange Rate | Speed | NRI Focus |
|---|---|---|---|---|
| Traditional Banks | High fixed fees | Poor markup | Slow | Generic |
| Wise | Variable percentage | Mid-market | Good | Generic |
| Aspora | Low flat fee | Google rate | Very fast | India-specific |
Wise remains the global leader. But for India-specific transfers, Aspora’s focus shows.
Aspora directly compares itself to Wise within their app interface. That’s confidence.
When you’re optimizing how to transfer USD to INR with minimum charges, these details matter.
What This Really Means:
If you send $1,000 monthly to India, you could save $200-400 annually with Aspora versus traditional banks.
That’s real money. Money that could go toward investing in Indian mutual funds instead of bank fees.
The Good, Bad, and Surprising
What I Love:
Laser focus on Indian diaspora. The company has grown remittance volume by 6x in one year. That’s execution.
The “Google rate” promise. No more guessing if you’re getting a fair deal.
First transfer free. Perfect for testing without risk.
What Concerns Me:
Multiple user reports of slow customer support and delayed responses. For urgent transfers, this could be problematic.
App-only approach. Some people prefer web interfaces.
Limited to India transfers. No global coverage like Wise.
The Surprising Part:
Sequoia Capital leading their $50M Series A round. VCs don’t invest that kind of money without seeing serious potential.
Their roadmap includes building a full financial suite for Indian diaspora. Think banking, investments, credit cards.
If they execute well, this could become the go-to financial app for every NRI.
Who Should Use Aspora?
Perfect For:
- NRIs in UK, UAE, US, Germany, Ireland, Italy
- Regular money senders (monthly/quarterly)
- People tired of bank fees
- Anyone wanting transparency in transfers
Skip If:
- You send money rarely (once a year)
- You need 24/7 phone support
- You transfer to multiple countries
- You prefer traditional banking relationships
Think about your financial planning after returning to India. Every rupee saved on transfer fees can go toward building wealth back home.
Pricing Deep Dive
| Country | Fee Structure | Cap | First Transfer |
|---|---|---|---|
| UK | £3 flat fee | £3 maximum | Free |
| UAE | AED 11 flat | AED 11 maximum | Free |
| USA | $2.99 flat | $2.99 maximum | Free |
Fees range between 0.003% to 0.30% per transfer, with most capped at local currency equivalent of $3.
Compare this to traditional banks charging $25-45 plus hidden markups. The savings are obvious.
Real Example:
Sending $5,000 from USA to India:
- Chase Bank: $45 fee + 3% markup = $195 total cost
- Aspora: $2.99 fee + 0% markup = $2.99 total cost
That’s $192 saved. Every single transfer.
When I calculated costs for my money transfer comparison article, these numbers would have changed everything.
The Verdict: Worth Your Trust?
After analyzing user feedback, financial backing, and competitive positioning, here’s my take.
The Reality: Aspora is solving a real problem for the Indian diaspora. High fees and poor service from traditional providers.
The Opportunity: With Sequoia backing and strong execution, they’re positioned to become much more than a money transfer app.
The Risk: Young company. Customer service growing pains. Limited geographic coverage.
My Recommendation:
Try the first free transfer. Test their speed and rates against your current provider.
If it works well, gradually shift more volume to them.
But keep backup options ready. Never put all your financial eggs in one basket.
For urgent transfers or large amounts, having multiple reliable channels makes sense.
What’s Next for Aspora?
The company is building “corridor by corridor” with deliberate financial services expansion planned.
They’re not just chasing geography. They’re building depth for Indian diaspora financial needs.
This could include NRI banking, investment products, credit solutions.
If they nail execution, every NRI could end up using Aspora for multiple financial services.
That’s the real opportunity. And risk.
Final Thoughts
Money transfers shouldn’t be complicated or expensive.
Aspora gets this. Their execution shows promise. Their backing gives confidence.
But remember, they’re still building. Growing pains are expected.
If you’re currently overpaying for transfers: Give Aspora a shot. The first free transfer lets you test without risk.
If you’re happy with current providers: Keep monitoring Aspora’s progress. They might become too good to ignore.
Have questions about international money management? Join our Back to India Facebook group and tap into wisdom of 50,000+ NRIs.
The collective experience there beats any single review.
TLDR: Aspora Review
- What it is: Y Combinator money transfer app specifically for India remittances
- Best for: Regular senders from UK, UAE, US, Germany, Ireland, Italy
- Cost: $2.99-£3 flat fee, first transfer free
- Speed: 30 minutes to 24 hours (mostly under 4 hours)
- Pros: Google exchange rates, low fees, India-specific focus, strong backing
- Cons: Customer service delays, app-only, limited geography
- Rating: 4/5 (Excellent for India transfers, room for service improvements) •
- Try if: You send money to India regularly and want better rates
- Skip if: You rarely transfer money or need multi-country options
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