Y Combinator-backed US fintech brings faster money transfers to India, eliminating traditional banking delays

SAN FRANCISCO, CA | Sep 2, 2025 – Y Combinator-backed fintech Grey has announced its expansion into India, offering near-instant rupee payouts for Indians earning from international clients. This service caters to freelancers, entrepreneurs, remote workers, students, and expats who rely on global income streams, enabling them to receive money within minutes while avoiding traditional banking hurdles.

Grey, a US-regulated fintech serving more than 2 million users across 50+ countries, now positions itself as a major player in India’s fast-growing digital economy. Alongside immediate rupee transfers, users also gain access to multi-currency accounts in USD, EUR, and GBP, with smooth local currency conversions.

India remains the largest global recipient of remittances, processing over $125 billion annually. Yet, most payments take 3–5 business days to clear, while recipients lose 3–7% in hidden conversion fees.

“Traditional banks are stuck in the past when it comes to international payments,” said Idorenyin Obong, CEO of Grey, who recently met users in Bengaluru. “One freelance designer told me she was losing over ₹15,000 each month on delays and unfair conversion charges. That’s significant money being wasted.”

The expansion comes as India strengthens its role in the global economy. The country leads the world in freelancing, with more than 15 million freelancers and around 3 million remote employees working for overseas firms. Despite this, many still depend on outdated payment systems that take days to process, even when clients are in the US, UK, Europe, Australia, or South America.

Grey’s model is different: the company provides real US, UK, and European bank account details to its users. This allows international employers and clients to pay them as if they were based locally, after which the funds are instantly converted into rupees for immediate use.

“We’re not just building another remittance app,” Obong added. “We’re giving Indians access to the same global financial infrastructure available to Americans and Europeans — enabling instant, borderless money transfers.”

With this launch, Grey enters a competitive Indian payments market where many global players have struggled due to regulatory hurdles and complex banking partnerships.

Indian users can now register at grey.co. The platform supports transfers from 170+ countries, along with features like virtual USD debit cards and USDC crypto payouts and deposits.

About Grey

Grey is redefining global payments by delivering fast, secure, and convenient cross-border banking solutions. Licensed as a Money Service Business by FINTRAC in Canada and FinCEN in the USA, Grey primarily focuses on emerging markets. The company’s services allow individuals and businesses to manage multi-currency accounts, exchange currencies, and send or receive payments across 170+ countries. Grey also offers access to virtual debit cards and other digital payment tools.

Media Contact

For press inquiries, please contact: Oyinda – oyinda@grey.co