Singaporean fintech Aspire announced today that it has closed an oversubscribed US$100 million Series C round co-led by Lightspeed and Sequoia Capital SEA.

The round was also joined by Paypal Ventures, LGT Capital Partners, and existing backers Picus Capital and Mass Mutual Ventures.

Aspire said that it plans to use the funding to further enhance its product offering, expand its regional presence as well as expand its team.

The Y-Combinator-backed firm had announced that it had secured an oversubscribed US$158 million Series B funding round just last year in September.

Founded in 2018, Aspire offers businesses a unified suite of financial services including international payments, corporate cards, payable and receivable management, accessible via a single account.

The firm reported that it had recently tripled its annualised total payment volumes to US$12 billion from over 15,000 businesses across the region.

“We are excited to partner with world-class investors 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 realise their full potential.”

said Andrea Baronchelli, Co-founder and CEO of Aspire.

“Aspire has emerged as a leader in the B2B fintech space in Southeast Asia, with a complete end-to-end product for managing business finance, a strong track record of growth, and solid fundamentals.

 

We are excited to partner with this world class team to support their vision for the future of financial services in the region”.

said Bejul Somaia, Partner at Lightspeed.