Aspire Achieves Profitability, Eyes Broader APAC and Team Expansion

Aspire Achieves Profitability, Eyes Broader APAC and Team Expansion

by June 6, 2023

Singapore’s B2B fintech Aspire announced that it has achieved profitability three months after closing an oversubscribed US$100 million Series C round co-led by Lightspeed and Sequoia Capital SEA.

Headquartered in Singapore, Aspire serves over 15,000 businesses, including over 5,000 businesses in Indonesia and thousands across the rest of Southeast Asia and APAC.

Its product offerings range from corporate cards, multi-currency business accounts and FX payments, to payroll and expense management.

The company has been expanding its client list, which includes the likes of AirAsia, Carousell, Endowus and more.

In the past 12 months, the company tripled its yearly revenues, hitting profitability in the second quarter of 2023 and US$15 million of annualised total payment volumes.

Looking forwrad, Aspire is eyeing expansion plans in Southeast Asia and broader APAC. The fintech is also looking to grow its team of over 400 as it is actively hiring for 50+ open positions.

Andrea Baronchelli

Andrea Baronchelli

“In today’s increasingly volatile macro-economic climate, trust and safety have become paramount for businesses seeking financial solutions. With solid unit economics and partnerships with the region’s leading financial institutions, we have demonstrated a strong financial position and commitment to reliability. We’re proud to be the long term business finance partner our clients can depend on,”

said Andrea Baronchelli, CEO of Aspire.

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