Singapore fintech Aspire lands $158m Series B funding

Singapore-based fintech start-up Aspire has raised $158 million in a Series B funding round as it looks to expand its presence across Southeast Asia.

Aspire CEO Andrea Baronchelli

The round was led by an undisclosed growth equity firm with participation from DST Global Partners, CE Innovation Fund, B Capital Partners and global hedge fund Fasanara Capital.

Existing investors including Hummingbird Ventures, Mass Mutual Ventures, Picus Capital and AFG also took part in the fundraise.

Founded in 2018, Aspire offers “all-in-one” digital banking services and financing options for entrepreneurs and emerging businesses.

The company’s platform aims to meet the end-to-end finance operating needs of start-ups and includes accounting and payroll software, invoice and expense management tools, FX and credit solutions and bank accounts.

Aspire CEO and co-founder Andrea Baronchelli says integrated platforms are dominating their respective industries and Aspire wants to do the same in finance through building a financial “operating system” for the Southeast Asia digital economy.

The company will use the funds to “double down” on existing markets and lay the groundwork for further expansion across the region.

The latest funding comes after a Series A round in August 2019, which raised $32.5 million.