Afno
Afno is a private online remittance platform enabling individuals in the USA to send money instantly to Nepal and India. It serves the South Asian diaspora via a direct-to-consumer website, generating revenue through transaction fees.
- Company typePrivate
- Founded-
- Headquarters—
- Headcount1–10
- GTM typeB2C
- OfferingServices
What Afno does
Afno is a private financial services company operating an online money transfer platform that enables individuals in the United States to send remittances instantly to recipients in Nepal and India. The service is delivered through a direct-to-consumer website at afno.io, targeting the South Asian diaspora community with personal remittance, family financial support, and gift transfer use cases. The company's primary differentiator is its instant transfer capability within these two specific corridors.
The business model is based on transaction fees charged on international money transfers, though specific fee structures, exchange rate margins, and pricing details are not publicly disclosed. Afno operates with a small team of 1–10 employees and runs a single-product, self-service web platform without a mobile app or disclosed API integrations. The underlying technology stack, licensing arrangements, and partner bank/payment infrastructure are not disclosed in available source material.
No funding rounds, management team details, partnerships, regulatory certifications, or financial performance metrics are publicly available. The company appears to operate as an independent entity in a highly competitive remittance market dominated by larger, well-funded incumbents.
Afno firmographics
Firmographics- Name
- Afno
- Website
- https://afno.io
- Company type
- Private
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Afno is a private online remittance platform enabling individuals in the USA to send money instantly to Nepal and India. It serves the South Asian diaspora via a direct-to-consumer website, generating revenue through transaction fees.
- Ownership category
- akta.pro rank
Afno industry classification
Industry- Product category
- Cross-Border Remittance
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Consumer Remittances (P2P) (FSAMAIAA)
- akta.pro secondary industry
- Consumer P2P International Remittances (FSAGAKAA)
Keywords
Afno business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure
Revenue model
- International Money Transfer Fees: Revenue likely generated through transaction fees charged on international money transfers. The specific fee structure, exchange rate margins, or revenue model details are not publicly disclosed based on the available information.
Go-to-market motion1 record
Distribution channels1 record
Afno product offering
Product offeringCore offering
Afno operates an online money transfer platform that enables users in the United States to send money instantly to recipients in Nepal and India. The service is delivered through a web-based, self-serve interface at afno.io, eliminating the need for physical branch visits. The offering is concentrated on two specific remittance corridors: USA to Nepal and USA to India.
Product overview
Afno is a single-product online money transfer platform that enables users in the USA to send money instantly to Nepal and India. The company offers one core service focused on international remittance.
Differentiator
Problem solved
Functional benefit
Products and services
- Afno Online Money Transfer Service Online money transfer service enabling users in the USA to send money instantly to recipients in Nepal and India through a web-based self-serve platform at afno.io. Targeted at individuals in the South Asian diaspora community for personal remittance, family financial support, and gift transfers.
Companies that use Afno
Customer profileSegments1 record
Ideal customer profiles1 record
Afno technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Afno partnerships and signals
Strategic signalRecent moves1 record
Expansion highlights2 records
Afno competitors and assessment
Company assessmentDirect peers
- Wise (formerly TransferWise): Wise offers international money transfers from the US to India and other corridors with transparent FX pricing. It competes directly with Afno for digital-first remittance customers seeking low-cost transfers.
- Remitly: Remitly is a leading US-based digital remittance platform serving diaspora corridors including USA → India and USA → Nepal. It directly competes with Afno on the same customer base with a similar online self-serve model.
- Xoom (PayPal service): Xoom is PayPal's international money transfer service covering USA → India and other corridors. It competes directly with Afno's online remittance offering, leveraging PayPal's brand and trust.
- WorldRemit: WorldRemit is a digital-first international money transfer platform serving diaspora corridors including USA → India and USA → Nepal. It is a direct peer to Afno with similar online remittance focus.
Broad incumbents
- MoneyGram: MoneyGram provides international money transfers from the US to India, Nepal, and many other destinations via app, web, and agent locations. It is a broad incumbent competitor in the same remittance space as Afno.
- Western Union: Western Union is the largest global money transfer operator with extensive USA → India and USA → Nepal corridor coverage across digital and agent networks. It is a broad incumbent competing with Afno on the same customer segments.
- Ria Money Transfer: Ria is a global remittance provider (Euronet subsidiary) offering USA → India and USA → Nepal transfers through app, web, and agent networks. It is a comparable incumbent in the consumer remittance space.
Emerging players
- Instarem: Instarem is a digital cross-border payments company offering consumer and business transfers from the US to India and other Asian corridors. It is an emerging peer with partial overlap to Afno's corridor focus.
Regional players
- FonePay: FonePay is a Nepal-based digital payment network with remittance-adjacent capabilities. It represents a regional/country-side peer relevant to Afno's USA → Nepal corridor payouts.
- SBI California (SBI Remit): SBI California and similar bank-affiliated remittance services focus specifically on USA → India transfers, serving the Indian diaspora. It is a regional/corridor-focused peer competing directly on Afno's India corridor.
Market position
Strengths3 records
Weaknesses3 records
Competitive moat3 records
Key risks4 records
Key highlights4 records
Customer concentration
Afno social profiles
Digital presenceAfno financial estimates
Financial estimateRevenue estimate
Valuation estimate
Afno leadership team
Management profileNumber of profiles
Afno funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Afno M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Afno
What does Afno do?
Afno operates an online money transfer platform that enables users in the United States to send money instantly to recipients in Nepal and India. The service is delivered through a web-based, self-serve interface at afno.io, eliminating the need for physical branch visits. The offering is concentrated on two specific remittance corridors: USA to Nepal and USA to India.
Is Afno a public or private company?
Afno is a private company. It is classified as unknown and is currently operating.
When was Afno founded?
Afno was founded in -1. It employs 1 to 10 people.
How does Afno make money?
One revenue line is on record: international Money Transfer Fees.
Who are Afno's main competitors?
Direct peers on record are Wise (formerly TransferWise), Remitly, Xoom (PayPal service) and WorldRemit. Broad incumbents are MoneyGram, Western Union and Ria Money Transfer. Instarem is listed as an emerging player. Regional players are FonePay and SBI California (SBI Remit).
Does Afno have an API?
No public API is recorded for Afno.
What industry is Afno in?
Afno's product category is Cross-Border Remittance. Its primary akta.pro industry code is FSAMAIAA, Consumer Remittances (P2P), with a secondary code of FSAGAKAA, Consumer P2P International Remittances. Its SIC code is 6199.