Xuno
Xuno, operated by Involute Inc., is a US-based mobile fintech that provides cross-border money transfers, USD virtual accounts, and large-value remittance services targeting the Nepali (and soon Indian) diaspora in the United States, powered by partnerships with Finxera and four US banks.
- Company typePrivate
- Founded2001
- HeadquartersEllensburg, United States
- Headcount11–50
- GTM typeB2C
- OfferingSoftware
What Xuno does
Xuno, operated by Involute Inc., is a US-based mobile-first fintech platform that provides cross-border money transfer and virtual banking services targeted at the Nepali diaspora in the United States, with an announced expansion to the India corridor. Its core product is the Xuno Virtual Account — a USD account with a routing number that allows users to hold USD with regulated US banking partners — combined with a 'Send Now, Convert Later' Envelope feature that lets users monitor live exchange rates and convert up to $1,000 instantly at 99¢ per transfer. The platform also supports fee-free large-value transfers up to $500,000 to Nepal, QR payments, full transfer tracking, and add-on modules for wealth growth (FD-backed borrowing and investments with US repatriation), nonprofit donations, and freelancer/employer payments.
Banking and processing infrastructure is delivered through partnerships with Sila Inc., Priority Technology Holdings (via its subsidiary Finxera, Inc., NMLS #1168701), and four US banks — Wells Fargo, Comerica Bank, Axos Bank, and Western Alliance Bank — providing fund custody, electronic transfer rails, and AML/KYC compliance. Revenue is generated primarily through foreign-exchange margins on currency conversion, supplemented by flat per-transaction fees (with the first transaction up to $10,000 free and large-value transfers fee-free).
The company operates a product-led, self-serve go-to-market model distributed through iOS App Store, Google Play, and a direct website, with no sales force. Team size is small (11-50 employees), no external funding rounds have been disclosed, and the company appears bootstrapped/private. Per the company's own history, Xuno began operations as a cross-border banking service in 2023, although one firmographic record lists a founding year of 2001.
Xuno firmographics
Firmographics- Name
- Xuno
- Legal name
- Involute Inc.
- Website
- https://nepal.xuno.co
- Company type
- Private
- Founded year
- 2001
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Xuno, operated by Involute Inc., is a US-based mobile fintech that provides cross-border money transfers, USD virtual accounts, and large-value remittance services targeting the Nepali (and soon Indian) diaspora in the United States, powered by partnerships with Finxera and four US banks.
- Ownership category
- akta.pro rank
Xuno industry classification
Industry- Product category
- Cross-Border Remittance
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- akta.pro primary industry
- Cross-Border & FX Payments Platforms (BPAMAFAK)
- akta.pro secondary industries
- Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), Cross-Border A2A & Bank Transfer Networks (FSAMAIAF)
Keywords
Where Xuno is headquartered
LocationHeadquarters
- HQ city
- Ellensburg
- HQ country
- United States
- HQ region
- North America
Markets served
Xuno business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Operations, Personnel, Marketing or Sales, Others
Revenue model
- Foreign Exchange Margin: Xuno earns revenue through the spread between mid-market exchange rates and rates offered to customers. The platform advertises competitive exchange rates while capturing margin on currency conversion transactions.
- Transfer Fees: Fixed per-transaction fees: first transaction up to $10,000 is free; subsequent transfers are charged at 99 cents per transaction. Large value transfers (up to $500,000) are fee-free.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | First Transfer - Free up to $10,000 |
| Transaction based/ take rate | Pay-as-you-go | Standard Transfer - 99¢ per transfer |
| Transaction based/ take rate | Pay-as-you-go | Large Value Transfer - Fee-free up to $500,000 |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels10 records
Xuno product offering
Product offeringCore offering
Xuno is a mobile-first fintech platform that provides cross-border money transfer and digital banking services, primarily serving the Nepali and Indian diaspora in the United States for remittances to Nepal (with India announced as coming soon). The platform offers a virtual USD account with a routing number for secure fund holding, a 'Send Now, Convert Later' currency conversion envelope feature for timing favorable exchange rates, instant transfers with QR payments and full tracking, and supports transfers up to $500,000 fee-free at 99¢ per standard transfer priced at wholesale bank rates.
Product overview
Xuno is a single unified mobile-first fintech platform for cross-border money transfers and banking services. The core product consists of the Xuno Virtual Account (USD account with routing number for holding and managing USD), the Send Now Convert Later Envelopes feature (for favorable rate timing on currency conversions), and the Xuno Mobile App (providing instant transfers, QR payments, and full tracking). Additional services include Large Value Transfers (up to $500,000 fee-free), Wealth Growth Services (investment returns and borrowing against FDs), Nonprofit Transfer Service, and Freelancer Payment Service—all accessible through the same mobile platform and integrated virtual account system.
Differentiator
Problem solved
Functional benefit
Brands
- Xuno Virtual Account: A USD account and routing number that allows users to hold USD securely with regulated banking partners.
Products and services
- Xuno Virtual Account A USD account with routing number that allows users to hold USD securely with regulated banking partners, enabling cross-border money management and electronic fund transfers.
- Send Now, Convert Later (Envelopes) A currency conversion feature allowing users to track live exchange rates and convert when the rate is favorable, with instant conversion up to $1,000 at wholesale bank rates.
- Xuno Mobile App A mobile application (iOS and Android) providing instant transfers, virtual accounts, QR payments, and full tracking for sending money to Nepal and India.
- Large Value Transfers A service enabling users to send up to $500,000 to Nepal securely and fee-free for purposes such as home construction, property investment, or substantial family support.
- Wealth Growth Services Investment and wealth management features offering high returns on investments, borrowing up to 90% against FDs (Fixed Deposits), and fund repatriation to the U.S.
- Nonprofit Transfer Service A service enabling donors to send secure, transparent transfers to registered nonprofit organizations in Nepal for charitable giving.
- Freelancer Payment Service A payment service allowing US-based businesses and individuals to send payments to Nepali freelancers, contractors, and remote talent quickly, transparently, and at competitive exchange rates.
Quantifiable outcome
- First transaction up to $10,000 is free of cost
- +3 more outcomes
Companies that use Xuno
Customer profileNamed customers7 records
Segments4 records
Ideal customer profiles3 records
Xuno technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Xuno partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core.
- Sila Inc.coreXuno partners with Sila Inc., a financial services software company, to provide banking infrastructure and payment processing capabilities. Sila enables Xuno to offer electronic fund transfers and virtual account services to customers.
- Priority Technology Holdings Inc. (Priority Commerce)coreXuno partners with Priority Technology Holdings Inc. through its subsidiary Finxera, Inc. to offer electronic fund transfers and account services. Finxera is NMLS licensed (#1168701) for compliance with financial services regulations.
- Wells Fargo, N.A.coreXuno utilizes Wells Fargo, N.A. as a banking partner for fund custody and transfer services. Wells Fargo is one of several partner banks enabling Xuno's electronic fund transfer capabilities.
- Comerica BankcoreComerica Bank serves as a partner bank for Xuno's financial services infrastructure, providing banking and fund transfer capabilities.
- Axos BankcoreAxos Bank is a partner bank enabling Xuno's virtual account and fund transfer services, contributing to the fintech's banking infrastructure.
- Western Alliance BankcoreWestern Alliance Bank is a banking partner supporting Xuno's electronic fund transfer and account services.
Scale indicators1 record
Recent moves6 records
Expansion highlights5 records
Xuno competitors and assessment
Company assessmentDirect peers
- WorldRemit: Digital-first international remittance service serving diaspora communities including South Asia, competing head-to-head with Xuno on mobile remittance UX, fees, and corridor coverage.
- Xoom (a PayPal service): PayPal-owned digital money transfer brand offering US outbound remittances to South Asia, with comparable mobile experience, fee structure, and bank-deposit/mobile-wallet payout methods.
- Sendwave: Mobile remittance app focused on corridors serving African and Asian diaspora, comparable as a PLG, app-first remittance peer with similar transparent pricing economics.
- Remitly: US-headquartered digital remittance app focused on immigrant corridors including South Asia, operating a mobile-first product with transparent fees and FX, the closest direct competitor to Xuno's US-Nepal/India positioning.
- Wise: Global cross-border payments platform with mid-market FX rates and low per-transfer fees, directly comparable to Xuno's wholesale-rate, transparent-fee remittance model across US outbound corridors.
Broad incumbents
- Ria Money Transfer: Large incumbent remittance network with broad South Asian payout coverage, representing an established competitor that Xuno aims to displace on transparency and cost for the Nepali diaspora.
- MoneyGram: Established cross-border money transfer operator with app and online flows into Nepal and India, comparable on corridor coverage but differentiated by Xuno's tighter product specialization.
- Western Union: Largest global remittance incumbent with extensive US-Nepal and US-India payout networks and online/app transfer capabilities, representing the legacy competitor Xuno targets on transparency and cost.
Regional players
- Placid Express: Specialized money transfer operator with emphasis on US-to-Nepal and US-to-India corridors via bank deposits and mobile wallets, directly comparable as a niche corridor-focused competitor.
- OrbitRemit: Online cross-border remittance provider operating in specific Asia-Pacific corridors, comparable as a digital-only, diaspora-corridor niche player adjacent to Xuno's strategic position.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights6 records
Customer concentration
Xuno social profiles
Digital presenceXuno financial estimates
Financial estimateRevenue estimate
Valuation estimate
Xuno leadership team
Management profileNumber of profiles
Profiles1 record
Xuno funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Xuno 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 Xuno
What does Xuno do?
Xuno is a mobile-first fintech platform that provides cross-border money transfer and digital banking services, primarily serving the Nepali and Indian diaspora in the United States for remittances to Nepal (with India announced as coming soon). The platform offers a virtual USD account with a routing number for secure fund holding, a 'Send Now, Convert Later' currency conversion envelope feature for timing favorable exchange rates, instant transfers with QR payments and full tracking, and supports transfers up to $500,000 fee-free at 99¢ per standard transfer priced at wholesale bank rates.
Is Xuno a public or private company?
Xuno is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Xuno founded?
Xuno was founded in 2001. It employs 11 to 50 people.
Where is Xuno based?
Xuno is headquartered in Ellensburg, United States, in the North America region.
How does Xuno make money?
Two revenue lines are on record. Foreign Exchange Margin is the primary driver. The others are transfer Fees.
Who are Xuno's main competitors?
Direct peers on record are WorldRemit, Xoom (a PayPal service), Sendwave, Remitly and Wise. Broad incumbents are Ria Money Transfer, MoneyGram and Western Union. Regional players are Placid Express and OrbitRemit.
Does Xuno have an API?
No public API is recorded for Xuno.
What industry is Xuno in?
Xuno's product category is Cross-Border Remittance. Its primary akta.pro industry code is BPAMAFAK, Cross-Border & FX Payments Platforms, with a secondary code of FSAMAIAG, Multi-Currency Accounts, Wallets & IBAN Services. Its NAICS code is 522320.