Singapore-based Insignia Ventures Partners, founded by ex-Sequoia Asia partner Yinglan Tan, has participated in the $9-million seed round of Aspire, a Southeast Asia-focused lending platform headquartered in the city-state.
Other investors who joined the round include Mark 2 Capital and Hummingbird Ventures. Y Combinator, the Silicon Valley accelerator, is also among Aspire’s investors.
“Aspire provides incredibly easy and affordable service for small businesses to thrive and solve cash flow challenges. We are impressed with the technical capability of the Aspire team and thrilled to partner with them in pursuing this important mission,” Tan Yinglan, founding managing partner of Insignia Ventures Partners, told this portal in an email.
Aspire Financial Technologies Pte Ltd, a subsidiary of Aspire Financial Technologies Holdings, was established in January 2018 by Andrea Baronchelli, former Lazada Singapore’s chief marketing officer, and Giovanni Casinelli, who founded other startups including CryptoJobs and Meteor.link.
The startup attempts to provide ‘fast and simple access to funding’ for small businesses with a ticket size of between $3,700 and $74,000 which can be repaid between three to six months.