Abound is a remittance mobile app spun out of Times Internet in 2023 that targets Indian expatriates, primarily in the U.S. The app lets users send money to India and offers a rewards and cashback layer across services including live sports streaming, grocery shopping and OTT subscriptions. Abound generates revenue from advertising tied to rewards and from foreign-exchange spreads on remittances. The company says it has processed over $150 million in total remittances from more than 500,000 monthly transacting users, processed $110–120 million in the past 12 months, and reports revenue growth of about 50% month-over-month since launch. Abound plans to add products such as high-yield savings, India-focused investments and cross-border credit solutions, and envisions banks participating on its platform. The firm currently has a team of about 40 people primarily based in India and plans to expand headcount, build an executive team in the U.S., and eventually enter markets such as Canada, Singapore and the UAE. Abound (rebranded from Times Club) is an app for non-resident Indians that enables transfers to more than 130 Indian banks and shopping at over 4,000 Indian grocery stores; it is available on iOS and Android. The product bundles loyalty and card-linked rewards, cashbacks, curated content, competitive exchange rates and speedy transfers, and supports free sign-up via Plaid or card issuer rails. Planned product additions include joint accounts, an inclusive membership model and premium cross-border cards to extend privileges to users’ family in India. Abound runs a dual-revenue model that pairs advertiser partnerships with user benefits and is considering subscriptions as an additional monetization path. Since the original Times Club launch in February 2020 the app has generated $65M in GMV, currently records daily transaction volumes of $500K (with a target to double) and estimates GMV reaching $90M by the quarter’s end. The company is incubated by Times Internet, led by CEO Nishkaam Mehta, and is scaling its team (currently 38) while planning geographic expansion beyond the U.S.

Total raised

$24M

Funding rounds

2

Latest round

Seed

Latest activity

Mar 2025