New Delhi, 1stDecember, 2020: Aeldra, a pioneer in global banking based in Silicon Valley, has launched its premium mobile banking app in India. Aeldra uniquely offers seamless U.S. banking and investment with an exclusive “digital private banking” experience. The Company is backed by leading fintech investors including Greg Kidd, an early investor in Twitter, Square, Ripple and Coinbase. The founding team is highly pedigreed with decades of experience including the launch of Goldman Sachs’ consumer bank, Marcus. Aeldra is targeting $5 billion (Rs. 37,500 crores) in deposits by 2023, and aims to be the leading global consumer bank by 2025.
With a new generation of globally affluent consumers on the rise, Aeldra is committed to bridging a sizable market gap. While big banks offer cross-border banking on the Corporate and Private Banking front, they continue to remain isolated on the consumer banking side. The lack of personalization, convenience, and responsive service often leaves customers with few options. This is where Aeldra is stepping in to give Indian citizens the ability to open a U.S. bank account from India to access personalized overseas banking and investment products, with the highest level of security and compliance.
Speaking at the launch, Sukeert Shanker, CEO at Aeldra, said, “The future of banking is global, and it is now. Aeldra is making it real. To access global banking, the simple act of opening a U.S. bank account without a Social Security Number is challenging for customers, let alone getting approved for a U.S. credit card or a loan. Globally-minded individuals from India deserve more. They can now open an FDIC-insured U.S. bank account with a Global Mastercard Debit card from India in 5 minutes on a mobile, and will soon be able to access unique global investment opportunities. Leveraging machine learning, we offer tailored products for professionals, students, families, investors, small business owners and freelancers.”
Aeldra (www.aeldra.com) is a Palo Alto based fintech that offers borderless banking to global affluent customers. Aeldra helps global citizens, irrespective of where they live, gain access to a U.S. bank account in under 5 minutes on their mobile. Aeldra’s vision is to be the first truly global consumer bank by leveraging the latest technologies. It has partnered with Mastercard and Blue Ridge Bank, N.A. to enable global citizens to use a single Aeldra app to bank and invest overseas. Aeldra is expanding rapidly and will soon offer banking services in Canada, the United Kingdom, and Australia.Aeldra was founded by Sukeert, Venkat, Anil and Rajesh, who are repeat entrepreneurs with about 20 years of experience spanning banking and technology. The founding team has launched similar banking products previously, including Goldman Sachs’ consumer bank, Marcus, and draws on more than twenty years of experience with leading global companies like McKinsey, Goldman Sachs, Cargill, and Accenture. The Founders’ mantra is security, safety and exemplary compliance with Indian and U.S. regulations to ensure customers’ finances are secure. Aeldra’s account is FDIC-insured, i.e. backed by the U.S. Government.