Aspire secures US$100m in Series C round

The funding will be used to further enhance their financial services.

Aspire announced that they closed an oversubscribed Series C round, which saw Lightspeed and Sequoia Capital SEA, PayPal Ventures, LGT Capital Partners, Picus Capital, and MassMutual Ventures invest a total of US$100m ($133m).

Dubbed the “Financial Operating System (OS) for businesses,” Aspire, which was launched in 2018, offers financial services to businesses, including start-ups and Small and Medium Enterprises (SMEs). These include international payments, corporate cards, and earnings and expense management, all accessible via a single, user-friendly account.

Aspire plans to use the investment to further enhance the products and services they are offering to SMEs, while expanding their regional presence and their team to continue to innovate in the space.

For Aspire Co-founder and CEO, Andrea Baronchelli, the partnership between them and the backers, which led to the US$100m investment, will fuel them “to bring finance back to the driving seat of new age businesses in Southeast Asia.”

“From delivering real-time financial data to 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 realize their full potential,” Baronchelli said.