PANews reported on March 27 that Abound, a remittance application spun off from Times Internet in 2023, raised $14 million in its first round of external financing, according to Techcrunch. The seed round was all equity financing, led by NEAR Foundation, with participation from Circle Ventures, Times Internet and other investors. The company plans to use the new funds to expand its business scope, increase product variety and improve technical infrastructure.
Originally called Times Club, Abound allows users to send money to India, earn rewards, and get cash back on services such as live sports, grocery shopping, and OTT subscriptions. The company plans to explore ways to give users access to high-yield savings, India-centric investments, and cross-border credit solutions. Abound currently has 40 employees, primarily based in India. The company plans to expand its headcount and build a management team in the United States.
