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Aspire closes an oversubscribed US$100M Series C round led by Lightspeed and co-led by Sequoia Capital SEA Singapore, 14 February 2023 - We are pleased to announce today that we have closed an oversubscribed Series C round. The round saw Lightspeed and Sequoia Capital SEA, Paypal Ventures, LGT Capital Partners and existing backers Picus Capital and Mass Mutual Ventures investing US$100M. Aspire, founded in 2018, offers businesses a unified suite of financial services including international payments, corporate cards, payable and receivable management, accessible via a single, user-friendly account. We have quickly gained popularity in Southeast Asia, and recently tripled our annualized total payment volumes to US$12BL from over 15,000 businesses across the region. “We are excited to partner with world-class investors to bring finance back to the driving seat of new age businesses in Southeast Asia,” said Andrea Baronchelli, Aspire Co-founder and CEO. “From delivering real-time financial data, to fast and transparent cross-border payments, to empowering business teams with world-class spend management capabilities to move fast and move right - we look forward to empowering every modern business, big or small, with the right financial tools to realize their full potential.” Aspire plans to use the funding to enhance its product offering further and expand its regional presence, while increasing its team to continue to innovate in the space. “Aspire has emerged as a leader"
Aspire grows revenue 3x YoY, hits profitability 3 months after closing US$100m Series C Just months after closing an oversubscribed US$100M Series C round, B2B fintech Aspire announced that it has achieved profitability. This was a result of its strong revenue growth and best-in-class unit economics, setting a new industry standard of sustainable growth. Headquartered in Singapore, Aspire serves over 15,000 businesses, including over 5,000 businesses in Indonesia and thousands across the rest of Southeast Asia and APAC. Its product offerings range from corporate cards, multi-currency business accounts and FX payments, to payroll and expense management. The company has been expanding its client list, which includes popular companies like Air Asia, Carousell, Love Bonito, Endowus and Tech In Asia which it counts as customers. In the past 12 months, the company tripled its yearly revenues, hitting profitability in the second quarter of 2023 and US$15B of annualized total payment volumes. This achievement came despite the headwinds of a challenging macro-economic environment that saw many companies impacted by widespread layoffs and downsizing. “In today's increasingly volatile macro-economic climate, trust and safety have become paramount for businesses seeking financial solutions. With solid unit economics and partnerships with the region’s leading financial institutions, we have demonstrated a strong financial position and commitment to reliability. "
Introducing Aspire’s New Business Account Plans: For Businesses Of All Sizes Over the past months, our team has been working towards our vision of being the all-in-one finance software for modern businesses. We’ve shipped 8 major product releases in the past year, and continue to reduce the boundaries between software and finance with a fully integrated solution that spans a company’s operational payments, receivables, payables, and expense management processes. During this time, we’ve also taken the time to talk to our users to ensure that we continue to meet our customers’ needs effectively. What we learnt is that there are 2 types of forward-looking businesses who want to use an all-in-one account: The fast-growing, modern business with developed finance processes and a corresponding finance team, that leverages Aspire to seamlessly process a large number of invoices, payments, bills, and expenses - and enjoy the significant productivity gains of a fully integrated solution. At the same time, there is also the developing business that has yet to form a finance function, and initially needs a simpler, but still intuitive operational account that’s fast, transparent, and easy to use. This process of talking to our users has significantly informed our view of the future, and has helped shape our vision, product roadmap, and pricing to better serve all customers. Today, we are excited to announce new plans for Aspire’s Business Accounts.
As 2020 comes to a close, we want to take this time to show our gratitude to everyone who has supported us throughout our journey this year. It has not been easy and we couldn’t have done it without your unwavering support. 🤝 We are excited to show you what we have in store for 2021 and hope that you’ll still be with us for the ride. The Aspire team wishes everyone a happy and prosperous new year! ✨🌟 💫 Aspire's 2020 in review, link in the comment section ⬇️
After 3 months and 3 rounds of competing, Aspire is excited to announce that our Vietnam Team clinched first place in the OCB Open API Challenge 2020 🏆! This year, the OCB Open API Challenge, organized by Orient Commercial Joint Stock Bank (OCB), is participated by more than 50 Fintech companies from 6 countries: Vietnam, USA, Malaysia, UK, India and Singapore. OCB allows banks and financial institutions to collaborate and bring the best experience to customers through technology. "On behalf of the Vietnam team, we are honoured to receive this award by Orient Commercial Joint Stock Bank (OCB). We are excited that our technology can enable banks like OCB to better serve SMEs in the Vietnam market." - Stefano Pellegrino, PhD, LLM, Aspire Co-founder and Vietnam Country Manager. Congratulations to the team, well deserved! 🎉
Aspire is excited to be participating the biggest fintech festival of the year, Singapore FinTech Festival, as the finalist of the Monetary Authority of Singapore (MAS) Fintech Award. Book a session with one of our representatives and get behind the scenes to what Aspire is all about and what's coming next in the near future! Few days to the Singapore FinTech Festival on December 7-11, see you there 🎊 https://lnkd.in/fZ_n_d4
We believe in growing together with like-minded startups to create a greater impact in the community we are in. Aspire continues to expand our community by partnering with startups across Southeast Asia and beyond. We are welcoming our newest partner, PEAK account, from Thailand. PEAK account is accounting software that allows SMEs to process the right information for faster and more accurate decision making. Aspire Thailand is partnering with PEAK account to provide SMEs with the fastest financial support in Thailand, accessible for anyone.
As published by Asian Banking and Finance, we're excited to be Xero's first business neobank partner to provide SMEs with a faster paperless accounting integration! "In the light of recent events, the ability of SMEs to operate remotely without reducing productivity has been crucial to their survival amid the pandemic. The partnership between Xero in Singapore and Aspire aims to digitise local SMEs and their relationship with their accountants with a much more frequent and completely paperless integration,” said Joel Leong, Co-founder and Country Manager of Aspire Singapore. “During a time of extraordinary uncertainty and change, we are pleased to partner with Aspire as part of our mutual commitment to make life better for SMEs and solve one of the small businesses’ biggest problems, cash flow. Xero provides SMEs with the most relevant data at their fingertips. Now together with Aspire, they additionally have transaction information synced every hour, offering a near real-time view of their finances ” said Kevin Fitzgerald FCCA, Managing Director of XERO Accounting Software.
We are so excited to be receiving The Startup (Fintech) Award by TechNode Global! Thank you to the whole Aspire team for the daily hard work to make this happen
You are all invited! Join MoneyLIVE in a series of panel discussion with Finance Experts about 'A New Chapter In The Evolution of Payments'. Happening later! Tuesday, 17 November 2-4PM SGT Panels will be moderated by Juliette Foster, owner of Magnus Communications and commented by Andrea Baronchelli CEO and Co-founder Aspire Line of speakers: • Jason Thompson, Chief Executive Officer, OVO (PT Visionet Internasional) • Sujith Abraham, Senior Vice President and General Manager - ASEAN, Salesforce • Caecilia Chu, Co-Founder and CEO, YouTrip • Brad Jones, Chief Executive Officer, Wave Money • Paolo Azzola, Chief Operating Officer, PayMaya Philippines • Kertapradana S., Head of Strategic Partnerships, Grab • Urvashi Gupta, Regional Manager, Onfido • Vincent Lau, Head of International Payments, HSBC • Yi (Judy) Bei, Global Head of Payments and Receivables, Mobile Money, Standard Chartered Bank • Frederic Ho, Vice President of APAC, Jumio Corporation Save your seat: https://lnkd.in/g-apXvj
