Aspire has received a $100 million Series C investment to grow its complete operating system for commercial lending.
The Singapore-based business said in a news release on February 14 that it intended to use the extra capital to expand its personnel, enhance its product selection, and fortify its position in Southeast Asia.
In addition to current investors Picus Fundraising and MassMutual Ventures, the Series C capital round reportedly includes commitments from Lightspeed, Sequoia Capital SEA, PayPal Ventures, LGT Capital Partners, and Lightspeed.
“Aspire has emerged as a leader in the B2B FinTech market in Southeast Asia, with a comprehensive end-to-end platform for managing business finance, a solid track record of development, and excellent foundations,” Lightspeed Partner Bejul Somaia said in the news release.
A third of small- to medium-sized companies (SMBs) are reportedly interested in accepting payments through a single payment platform, according to research.
Such platforms can address many of the accounts payable (AP) and account receivable (AR) issues that SMBs face, including inefficiencies and pain points when making and receiving B2B payments, according to “The AP/AR Quick-Start Guide: Reducing B2B Payments Friction for SMBs,” a collaboration between and Plastiq.
Corporate cards, overseas payments, and AP and AR administration are all part of Aspire’s entire range of financial services for businesses, according to the press release.
According to a press release, the company processes $12 billion in annual total payment volumes and offers services to 15,000 business owners and SMBs throughout Southeast Asia.
