Aspire Co-Founders Andrea Baronchelli (L) and Joel Leong
Aspire, a provider of an all-in-one finance operating system (OS) for businesses in Southeast Asia, has closed a US$100 million oversubscribed Series C round co-led by Lightspeed Ventures and Sequoia Capital SEA.
Paypal Ventures, Tencent, LGT Capital Partners and existing backers also co-invested.
Aspire plans to use the funding to enhance its product offering, expand its regional presence, and add more talent across Southeast Asia.
Established in 2018, Aspire offers businesses a unified suite of financial services, including international payments, corporate cards, and payable and receivable management accessible via a single, user-friendly account.
Andrea Baronchelli, Aspire Co-Founder and CEO, said: “From delivering real-time financial data, 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 realise their full potential.”
Also Read: Aspire lands US$158M Series B to scale its ‘all-in-one finance OS’ for SMEs across SEA
Aspire is the all-in-one finance operating system for new-age businesses. The company claims it helps SMEs save time and money with multi-currency accounts and cards, expense management, payable management, and receivable management solutions – all in one account.
It said it recently tripled its annualised total payment volumes to US$12 billion from over 15,000 businesses across the region.
Headquartered in Singapore, Aspire has over 400 employees across four countries.
In September 2021, Aspire closed an oversubscribed US$158 million Series B fundraise led by an undisclosed global growth equity firm. Two years earlier, the firm secured US$32.5 million in a Series A round of financing led by Mass-Mutual Ventures Southeast Asia, with participation from Arc Labs and Y Combinator, Hummingbird Ventures, and Picus Capital.
This was preceded by a US$9 million seed investment from Insignia Ventures Partners, Mark 2 Capital, and Hummingbird.
Aspire is a graduate of Y Combinator Winter 2018.
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