SINGAPORE, October 3, 2023 -- CB Insights today named Aspire and six other Singapore-HQ startups to its sixth-annual Fintech 100 ranking - a prestigious list of the 100 most promising private companies worldwide working on groundbreaking financial technology.
The 100 winners were selected from a pool of over 19,000 private companies worldwide, based on factors ranging from tech innovation, R&D activity, equity funding, investor profiles, business relationships, and growth potential.
There are 31 Unicorn companies with $1B+ valuations on the list, and the cohort has raised nearly $22B in equity funding across 381 deals since 2019. With 7% representation, Singapore is the third most featured country on the list, after the US and UK. This is more than double the proportion of Singapore startups in last year’s edition, and includes Thunes, Endowus, Nium, Qlub, TazaPay and Multiplier.
"We're proud to be part of this year’s Fintech 100 list alongside six other homegrown Singaporean startups,” said Andrea Baronchelli, CEO of Aspire. “Above all, this recognition is a testament to Singapore's pivotal role in driving fintech innovation globally and positions us firmly on the world stage.”
Aspire offers businesses a unified suite of financial services including international payments, corporate cards, payable and receivable management, accessible via a single, user-friendly account. Earlier this year, Aspire closed an oversubscribed US$100M Series C round and announced that it has achieved profitability.
Singapore remains a hotbed for fintech start-ups due to strong government support and connectivity to APAC and beyond, where fintech investments soared to US$4.3 billion in the first nine months of 2022, according to a report by PwC Singapore in July.
Over the past 2 years, approximately 2,000 Singapore-headquarted companies have set up operations abroad, a 25% increase from the previous two years.
"Singapore's fintech landscape has seen consistent growth in recent years, with fintechs like Aspire using the country as a launchpad for their global ambitions." said Shadab Taiyabi, President of the Singapore FinTech Association (SFA). “It’s heartening to see our thriving fintech ecosystem recognized to be leading the charge in innovation across Asia and the globe.”
Aspire is the all-in-one finance platform for businesses, helping over 15,000 companies save time and money with international payments, expense management, payable management, and receivable management solutions - accessible via a single, user-friendly account.
Headquartered in Singapore, Aspire has over 400 employees across four countries and is backed by global top tier VCs, including Sequoia, Lightspeed, Y-Combinator, Tencent and Paypal.
CB Insights builds software that enables the world's best companies to discover, understand, and make technology decisions with confidence. By marrying data, expert insights, and work management tools, clients manage their end-to-end technology decision-making process on CB Insights. To learn more, please visit www.cbinsights.com.
The SFA is a cross-industry and non-profit organisation. Its purpose is to support the development of the FinTech industry in Singapore, and to facilitate collaboration among the participants and stakeholders of the FinTech ecosystem in Singapore. The SFA is a member-based organisation with 900 members. It represents the full range of stakeholders in the FinTech industry, from early-stage innovative companies to large financial players and service providers.
Brand Marketing Lead