NRI-focussed fintech startup Belong has raised $5 Mn (about INR 42.9 Cr) in its seed funding round led by Elevation Capital.

The funding round saw participation from Relentless Ventures and a host of angel investors including Urban Company cofounders Abhiraj Singh Bahl and Varun Khaitan, Zomato CFO Akshant Goyal and Mamaearth cofounder and CEO Varun Alagh, PayU SVP Vineet Sethi, and McKinsey partner Aditya Sharma.

Founded in 2024 by Ankur Choudhary, Ayush Singh, Sai Sankar M, and Savitri Bobde, Belong operates through GIFT City and aims to provide retail investment products to NRIs. It has a payment services provider (PSP) licence and broker dealer license through GIFT city to provide these services.

The startup currently offers a USD fixed deposit product, in partnership with Indian banks operating in GIFT City, starting with NRIs in the UAE market. The startup claims it offers doorstep KYC and easy repatriation.

Besides, it has developed NRI-specific digital tools like NRI FD rates explorer, GIFT Nifty tracker, NRI compliance compass, residential status calculator, and more, to help NRIs make informed financial decisions.

(The story will be updated soon)

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