Neobank firm Vance raises $5.8 million in Seed round led by Hummingbird Ventures

BANGALORE: Global neo-banking platform Vance has raised $5.8 million in a seed round led by Hummingbird Ventures. The round also saw participation from Global Founders Capital, YCombinator, Soma Capital and seasoned angels such as Alan Rutledge and Gokul Rajaram.

Founded in 2022 by Parth Garg, a Stanford dropout, Vance aims to change the way global citizens engage with financial services. Their vision is to build an all-encompassing banking platform, which will allow users to seamlessly manage separate accounts, exchange currencies, and eventually, invest in equities across markets. Unlike multi-currency wallets, a Vance account allows users to transact using local rails in different countries. The goal – enabling users to use direct debit in the US, while seamlessly leveraging India’s UPI rails through the same account.