Aspire, a B2B financial firm located in Singapore has been successful in raising $100 million for its series C financing.
In addition to previous investors, PayPal Ventures, Tencent, LGT Capital Partners, and Sequoia Capital SEA participated in the round, which was headed by Lightspeed and Sequoia Capital SEA.
Aspire provides international payments, corporate cards, payables and receivables management, and other financial services. It was founded in 2018 out of Y Combinator’s winter batch for that year. According to the business, its yearly total payment volume has increased by three times to US $12 billion. Over 15,000 customers from Southeast Asia are served by it.
AspireAccount, the company’s core product, provides B2B payment services and cash flow management to online retailers.
Aspire’s co-founder and CEO, Andrea Baronchelli, stated that the goal of the firm is to restore finance to the forefront of new-age enterprises in Southeast Asia.
“From delivering real-time financial data to fast and transparent cross-border payments to empowering business teams with world-class spend management capabilities to move fast and move right – we look forward to empowering every modern business, big or small, with the right financial tools,” he said in a statement.
With the additional funds, Aspire hopes to expand its selection of financial products throughout Southeast Asia while preserving “a sound business model with best-in-class unit economics,” the firm said.
According to Crunchbase records, the business had previously raised close to $200 million.
