Singapore-based digital bank Aspire raises $100m

Founded in 2018, Aspire offers businesses a suite of financial services including international payments, corporate cards, and receivable management solutions—in one account

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Singapore-based digital bank Aspire raises $100m

Aspire, a Singapore-based digital bank, has raised $100m in an oversubscribed series C funding round. 

The investment will be used to enhance its product offering, expand its regional presence and add to its team. 

Investors included Lightspeed, Sequoia Capital SEA and Paypal Ventures, plus existing backers Picus Capital and Mass Mutual Ventures. 

In its series B round in 2021, Aspire raised $158m, consisting of $58m in equity and $100m in debt. 

Founded in 2018, Aspire offers businesses a suite of financial services including international payments, corporate cards, and receivable management solutions—in one account.  

Over the past 12 months it has tripled its annualised total payment volumes to $12b, from over 15,000 businesses in Southeast Asia. 

Andrea Baronchelli, co-founder and chief executive officer at Aspire, commented: “From delivering real-time financial data to fast and transparent cross-border payments, empowering business teams with world-class spend management capabilities, we look forward to empowering every modern business with the right financial tools to realise their full potential.” 

Bejul Somaia, partner at Lightspeed, added: “Aspire has emerged as a leader in the B2B fintech space in Southeast Asia, with a complete end-to-end product for managing business finance, a strong track record of growth, and solid fundamentals.” 

Image: Aspire