The round also saw participation from Global Founders Capital, YCombinator, Soma Capital and seasoned angels such as Alan Rutledge and Gokul Rajaram.

Vance is building a global neobanking platform that will enable customers to access banking services across the world

The startup plans to enter five countries and grow its 10-member team to 30 in the coming 6-months.

Some of Vance’s features are also comparable to Xflow, Paypal and Transferwise.

Founded by Stanford dropout Parth Garg in 2022, the company aims to build an all-encompassing banking platform for its users.

Founded in 2022 by Parth Garg, Vance is changing the way global citizens engage with financial services.

Vance will use the fresh funds for new product development, hiring, and activating services in five countries including the UK, and UAE.

Vance’s vision is to build an all-encompassing banking platform, which will allow users to manage separate accounts, exchange currencies, and eventually, invest in equities across markets.

With an ever increasing global population, a global bank is the need of the hour more than ever,” said Garg, who is founder CEO of Vance.

A Vance account enables users to conduct transactions using local rails in several nations, unlike multi-currency wallets.