Singapore’s neobank Aspire raises $158m from DST, others 

Aspire's co-founder and CEO Andrea Baronchelli. Source: Aspire.

Singapore-based neobank for small- and medium-sized enterprises Aspire has raised $158 million in a Series B round led by an undisclosed growth equity investor, per an announcement.

The round also saw the participation of new investors namely DST Global Partners, CE Innovation Fund, B Capital Partners, besides hedge fund Fasanara Capital. 

Returning investors include Hummingbird Ventures, MassMutual Ventures, Picus Capital, and AFG. Founders of fintech startups such as Taavet Hinrikus, the co-founder of Wise, and Moses Lo, the co-founder of Xendit, also participated in the round.

Aspire said in a statement it will use the funding to “double down on existing markets, while building the foundations to serve growing business clients across the whole South East Asia region”. Aspire operates in Singapore, Indonesia, and Vietnam. 

Founded in 2018, Aspire offers banking solutions such as working capital and corporate debit cards to companies. It claims to have served over 10,000 businesses in Southeast Asia. 

The latest funding brings the total amount of funds raised by Aspire to nearly $200 million. It last raised $32.5 million in a Series A round led by MassMutual Ventures in August 2019. 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.