We demonstrate for the first time an asymmetric squaraine-based low band-gap hole transporting material, which acted as both light harvesting and hole transporting layers in methylammonium lead triiodide perovskite solar cells. Opto-electrochemical characterization revealed extremely high molar extinction coefficients of the absorption bands in the low energy region and prominent space charge delocalization due to its electronically asymmetric nature. A suitable band alignment of the squaraine HOMO level with the valence band edge of the perovskite, and the conduction band of the TiO2 with LUMO of the perovskite allowed a cascade of hole extraction and electron injection, respectively. Red-shifted absorption was observed for both HTMs in thin films coated on the perovskite, and the optimized devices exhibited an impressive PCE of 14.7% under full sunlight illumination (100 mW cm(-2), AM1.5 G). The efficiency value is comparable to that of the devices using a state-of-the-art spiro-OMeTAD hole transport layer under similar conditions. Ambient stability after 300 h revealed that 88% of the initial efficiency remained for , and almost no change for , indicating that the devices had good long-term stability thus suggesting that the asymmetric squaraines have great potential as a dual-functional HTM for high performance perovskite solar cells.