Private Equity

VC Fund Investments

Neobank platform Vance raises $5.8 M led by Hummingbird Ventures

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Mumbai-based neo-banking platform Vance has raised USD 5.8 million in a seed round led by Hummingbird Ventures. The round also saw participation from Global Founders Capital, exisging investor YCombinator, Soma Capital and angels such as Alan Rutledge and Gokul Rajaram. The startup aims to leverage the fresh capital to expand its 10-member team to 30 in the next six months. The funds will also be used to create products such as remittances, savings accounts, and investments. Founded in 2022 by Parth Garg, a Stanford dropout, Vance was a part of YCombinator's Winter 2022 batch and plans on going live in the UAE and UK by the end of 2022.