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SINGAPORE, 30 November, 2023 - Aspire, the all-in-one finance platform for modern businesses, today announced the official opening of its new headquarters in Singapore, as the company doubles down on driving fintech R&D and innovation in the region.
Since being founded in 2018, Aspire has raised more than USD $300 million from world-class investors and was recently recognized as one of the Top 100 most promising fintech startups globally. It has a client base of over 15,000 businesses across Asia and achieved profitability in 2023, cementing itself as one of Singapore’s highest-valued Fintech companies.
“Singapore has been the epicenter of our regional operations, thanks to its international connectivity, skilled tech workforce, and robust government support for fintech innovation,” said Andrea Baronchelli, CEO and Co-Founder, Aspire. “We are fully committed to the local fintech ecosystem and plan to invest more to continue to tap on the nation’s strong infrastructure and foundations.”
Aspire plans to double its local workforce of skilled fintech talent in Singapore to 300 by 2025. Along with the launch of its new office HQ, Aspire celebrates the opening of its new financial technology excellence hub in Singapore, through which it will drive product R&D and invest in strategic technologies at the core of the Fintech industry, including Artificial Intelligence (AI) and Cybersecurity. One such example is a whitepaper it has jointly published with PwC Singapore, on the opportunity and practical implications of AI for finance teams, which Aspire plans to embed learnings directly into its product.
Speaking at the opening event, Peter Ong, Chairman of Enterprise Singapore said, “I am heartened to see Aspire continue pushing the boundaries of fintech to drive the growth and transformation of more businesses. Aspire’s plans to expand its team in Singapore is a positive step forward that will help to spark more innovation in our startup ecosystem. Enterprise Singapore is committed to working with our partners to deepen support for startups such as Aspire, and help them scale locally and abroad.”
Aspire’s dynamic growth stands against the backdrop of rapidly evolving digital transformation in Asia. According to the latest 2023 e-Conomy report from Google, Bain, and Temasek, digital payments now account for more than 50% of SEA’s overall transaction value, bringing in an additional USD $30 billion for the digital economy. This focus on fintech is forecasted by BCG to extend across Asia Pacific, which is poised to become the world's largest fintech market by 2030 with a projected CAGR of 27%.
“The next generation of Asian businesses needs an integrated, borderless, modern finance solution,“ adds Andrea Baronchelli, “At Aspire, we’re building the future of business finance for APAC’s digital economy.”
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About Aspire
Aspire is the all-in-one finance platform for modern businesses, helping over 15,000 companies across Asia 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 450+ employees across five countries and is backed by global top tier VCs, including Sequoia, Lightspeed, Y-Combinator, Tencent and Paypal. Earlier this year, Aspire closed an oversubscribed US$100M Series C round and announced that it has achieved profitability.
Media Contacts
Yanchang Tan
Sling & Stone for Aspire
aspire@slingstone.com
Maddie Gupta
Aspire
maddie.gupta@aspireapp.com
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