Finance & Economics

Neobank Aspire Raises $100 Million

Aspire, a Singapore-based neobank has raised more than $100 million in funding following the results of Series C.

Neobank Aspire Raises $100 Million

Source: Pixabay.com

The Bank seeks to obtain additional financing as part of its intentions to become an operating system providing services to representatives of small and medium-sized businesses. Aspire’s investors are Lightspeed, Sequoia Capital SEA, Paypal, Tencent, and LGT Capital Partners.

The bank held a Series B financing round in 2021. Aspire was founded in 2018. Then the main purpose of the financial institution was called the provision of loans to replenish working capital by small and medium-sized businesses. Over time, the bank expanded the list of services provided. Aspire offers customers bank accounts for cross-border enterprises, corporate cards, accounts payable and receivables management, and automated account processing connected to financial management software.

The bank’s co-founder and CEO, Andrea Baroncelli, says that over the past 12 months, Aspire has tripled its total annual payments to $12 billion. He also said that currently, the financial institution serves more than 15 thousand enterprises in Southeast Asia.

Andrea Baroncelli said that the bank focuses primarily on the business of the new century, whose purchase decisions are increasingly dependent on UX and usability, from companies with one director to companies with more than 500 employees. He noted that the new business format has already covered a wide range of industries, including IT, professional services, commodity businesses, and startups.

Most of Aspire’s clients use the bank’s services for payment accounts, multi-currency management, and accounts payable and receivables management.

The bank has become a leader in the field of B2B fintech in Southeast Asia. A financial institution has a complete comprehensive product for managing business finances, a good track record of growth, and reliable fundamentals.

As we have reported earlier, Landytech Secures $12 Million Series B.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.