Digital platform
SBNRI
Early-mover (2020) full-stack NRI app — banking, MFs, PMS, tax, FCNR — independent of State Bank of India.
Dedicated NRI team
Yes
Strategy tenure
since 2020
India onshore arc
—
Hubs
India onshore
SBNRI is the early mover and the counter-example to the well-funded 2024-25 cohort. Founded in 2020 and headquartered in Gurgaon, it is a full-stack NRI app spanning mutual funds, Micro VC, PMS, India and US tax filing, PAN, NRO-NRE transfers, FCNR fixed deposits and USD investments, with initial focus on the USA, Canada, UK, Malaysia, GCC and Africa. It is an independent entity with no connection to State Bank of India. Its site frames the opportunity as '30Mn+ NRIs' — addressable-market copy, not a user count — and its last disclosed funding was a December 2022 venture round of undisclosed size; Inc42 lists 59 employees.
Why it matters
SBNRI shows the tax-and-documentation wedge into NRI finance predates the 2024-25 fintech wave: a full-stack app spanning banking, MFs, PMS and tax, live since 2020. But with no verifiable funding since a December 2022 venture round and a small team (59 per Inc42), capital and momentum have clearly shifted to Aspora, Abound and Belong. Its '30Mn+ NRIs' line is market-sizing, not traction — a reminder to read every fintech's headline number for what noun it actually attaches to.
By the numbers
The journey
Last disclosed funding (venture round, Dec 2022)
Inc42's profile lists SBNRI's last funding as a venture round dated 31 December 2022, with the amount and investors not shown.
SBNRI founded — full-stack NRI banking/investment/tax app
SBNRI was founded in 2020, headquartered in Gurgaon, as a single app for NRI financial needs — mutual funds, Micro VC, PMS, India and US tax filing, PAN, NRO-NRE transfers, FCNR fixed deposits and USD investments — with initial focus on the USA, Canada, UK, Malaysia, GCC and Africa. It is an independent entity with no connection to State Bank of India.
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