Sequoia-Backed Aspire Reportedly Will get US$79M Funding From US Holding Agency


Sequoia-Backed Aspire Reportedly Gets US$79M Funding From US Holding Firm



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January 17, 2024

Singapore-based B2B fintech agency Aspire has acquired US$79.15 million in funding from its US-based holding firm, in response to newest filings with Singapore’s Accounting and Company Regulatory Authority (ACRA) obtained by DealStreetAsia.

Based on the ACRA filings, this funding might be facilitated by means of the allotment of 15.8 million unusual shares and 63.3 million redeemable desire shares. The corporate has but to concern an official assertion on the elevate which might probably be a mixture of each fairness and debt financing.

Aspire had introduced that it achieved profitability three months after closing an oversubscribed US$100 million Sequence C spherical co-led by Lightspeed and Sequoia Capital SEA in June final yr. Only a month previous to that, the agency secured a further US$8.3 million from its guardian firm.

Lower than two months in the past, Aspire had opened its new headquarters in Singapore, aiming to boost its position in fintech analysis and growth (R&D) throughout the area. In keeping with this,

Aspire established a brand new monetary expertise excellence hub in Singapore that may drive its give attention to product growth and strategic investments in key areas similar to Synthetic Intelligence (AI) and cybersecurity.

The corporate shared that it additionally had plans to double its fintech-specialised workforce in Singapore to 300 by 2025.

Based in 2018, Aspire gives a complete suite of economic providers for small companies, together with worldwide funds, company playing cards, and payable and receivable administration by means of a unified platform.

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