Y-Combinator-backed Aspire reveals that it has secured $158 million in capital via its Series B round.
As noted by its management:
“Aspire is the all-in-one finance operating system for growing businesses. We help companies pay, manage, and earn smarter – by doing more than a bank, bookkeeper, or reward program could ever do alone. Our mission is to empower the next generation of entrepreneurs with the financial tools they need to realise their company’s full potential.”
With head offices in Singapore, and additional locations in Indonesia and Vietnam, Aspire claims to be “backed by some of the world’s best VCs, including Y-Combinator.”
Established in 2018 by Lazada founders and former executives, Aspire aims to offer all-in-one or comprehensive financial services to business owners and has served more than 10,000 businesses across the Southeast Asia region.
The oversubscribed $158 million round has been led by an unnamed international growth equity company along with contributions from DST Global Partners, CE Innovation Fund, B Capital Partners, and hedge fund Fasanara Capital.
Existing investors also took part in Aspire’s investment round. They include Hummingbird Ventures, Mass Mutual Ventures, Picus Capital, and AFG.
Prominent Fintech entrepreneurs including Taavet Hinrikus, Co-Founder at Wise, Alexandre Prot and Steve Anavi, Co-Founders at Qonto; Pierpaolo Barbieri, Founder at Uala; Moses Lo, Co-Founder at Xendit; Hendra Kwik, Co-Founder at Payfazz; and Gerry Colyer, Co-Founder at Clara, have contributed to Aspire’s latest round as well.
Andrea Baronchelli, Founder and CEO at Aspire, stated:
“We see a world dominated by integrated platforms across various business functions such as Salesforce for Sales or Slack for Communication. We believe the same is happening for Finance and we are here to build the operating system for the SouthEast Asia digital economy. With the series B investment, Aspire is looking to double down on existing markets, while building the foundations to serve growing business clients across the whole South East Asia region.”