Remigos, a startup based in both London and Indore, has raised Rs 58 lakh in a pre-seed round led by Indo Thai Securities Ltd, with participation from several other angel investors.
Sarthak Doshi, a London Business School alumni, founded Remigos in June 2022 as a one-stop platform for international students to automate immigration tasks, set up lifestyle solutions while in India, and cross-border access payments and international banking.
Sarthak Doshi, said, “From the day I landed in the UK for my education, it took me 3-4 weeks just to access essentials like a permanent phone number and a UK bank account. Once I reached London, it was also impossible to get access to affordable services to get money here. Since then, it has been my passion to solve this problem.”
According to the company’s press release, The raised capital will be used to grow the product and build a superior customer experience. Additionally, the company plans to grow its partnerships to widen its customer funnel.
The company’s vision is to provide immigrants with the comforts of home in their new country. “We are a team of immigrants making it not only remarkably simple but also affordable for the immigrants,” Sarthak explained. Many students from low-income families end up paying more than Rs. 100,000 in hidden and unnecessary fees, which add up to their loans. We not only improve the lives of millions of students, but we also help their families prosper. That is the thing that keeps us awake at night.”
India is the fastest-growing market for international students. Over 750,000 students study abroad each year.
Remigos stated that it has already launched one channel from India to the United Kingdom and plans to launch in the United States and Canada next year.
The startup claims that it will already serve 50% of the Indian market in these three markets. They have already received an RBI licence to launch and have assisted over 250 beta users in receiving Rs 6 crore from India.
Rajendra Bandi, Director at Indo Thai Securities, commented on the investment, saying, “We are extremely excited with our investment in Remigos. Remigos is alleviating a significant pain point for customers, and this market is primed for disruption. The team’s strong execution with such limited capital has impressed us. They already have high margins, and this round will allow them to scale the product to a larger audience.”
