Singapore-based fintech firm Aspire has raised $158m in the Series B funding round to strengthen its presence in existing markets.
The round was led by an undisclosed global growth equity firm, while other investors DST Global Partners, CE Innovation Fund, B Capital Partners and Fasanara Capital also joined.
Go deeper with GlobalData
Several of the firm’s existing investors as well as some fintech founders also participated in the round.
What does Aspire do?
Aspire was founded to offer loans to small and medium-sized businesses. However, the fintech gradually expanded its operations to become an all-in-one finance operating system for businesses.
Currently, Aspire’s service portfolio includes businesses accounts, virtual cards, automated invoice payment process and expense management among others.
Apart from Singapore, the company has teams in Indonesia and Vietnam.
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By GlobalDataFuture plans
Aspire plans to use the new proceeds to double down on existing markets. It also plans to prepare itself to serve business clients across the whole South East Asia region.
Aspire co-founder and CEO Andrea Baronchelli said: “We see a world dominated by integrated platforms across various business functions such as Salesforce for Sales or Slack for Communication.
“We believe the same is happening for Finance and we are here to build the operating system for the SouthEast Asia digital economy.
“We build value for our customers by saving time, saving money, and boosting their growth.”
