Global Indians Focused Fintech Platform Belong Bags $5 Million in Funding

Led by Co-founders Ankur Choudhary(CEO), Savitri Bobde(COO), Ayush Singh(CTO), and Sai Sankar(CBO), Belong secures $5 Million in funding led by Elevation Capital and saw participation from from Relentless Ventures and angel investors, including Abhiraj Singh Bhal and Varun Khaitan (co-founders of Urban Company), Akshant Goyal (CFO, Zomato), Varun Alagh (co-founder of Mamaearth), Vineet Sethi (senior vice president at PayU), and Aditya Sharma (partner, McKinsey), as mentioned in ET.

Belong will use the funding to secure regulatory licenses, expand its product offerings, and support marketing and geographic growth initiatives.

Belong offers a USD fixed deposit product with tax-free returns in India, rupee depreciation protection, and easy repatriation. Licensed by IFSCA, it plans to launch mutual funds, equities, insurance, and financial cards under GIFT City’s framework. 

Alongside FDs, it provides digital tools like NRI FD explorers and tax calculators, and aims to simplify India tax filing for NRIs. Despite rising remittances, NRIs remain underserved in mutual fund AUM, highlighting a market gap that Belong aims to fill.