Homegrown financial services company Singlife has partnered with Singaporean B2B fintech Aspire to enable regional small-to-medium enterprises (SMEs) greater access to financial services.

This partnership is the first to be launched under the fintech accelerator programme Singlife Connect which focuses on developing scalable market solutions to innovate insurance distribution.

Singlife said that SMEs can expect seamless access to a suite of services ranging from financial-related software to affordable business insurance through this partnership.

Through Aspire, Singlife will offer complementary business-related insurance products. Aspire will provide up to 8% cashback on premiums paid for customers who onboard successfully, helping SMEs combat rising inflation while prioritising their employee’s wellbeing.

Additionally, Aspire will offer its comprehensive financial platform services to Singlife’s SME customers who are looking for new digital solutions to serve their growing financial needs.

Varun Mittal, Head of Innovation & Ecosystem at Singlife said,

“As like-minded homegrown businesses, we are very proud of our collaboration with Aspire, which we hope is the first of many other partnerships with strong digital partners in the market.

 

Our approach throughout our entire growth story has focused on supporting and empowering local businesses and we are excited for the many possibilities this partnership will bring.”

Thomas Jeng, General Manager (Singapore) at Aspire said,

“We are delighted to partner with Singlife to support the SME ecosystem in Singapore with meaningful offerings during a time of heightened risk and macroeconomic volatility.

 

As we continue to expand our offerings and support more businesses, we look forward to working closely with Singlife to provide innovative financial solutions that meet the evolving needs of SMEs in Singapore.”