Aspire, a Singapore-based corporate finance platform, has received in-principle approval for a major payment institution license from the Monetary Authority of Singapore (MAS).
With this approval, Aspire Expand financial services for businesses.
Currently operating under a temporary license exemption, Aspire offers services such as international payments, corporate cards and accounts payable through a single platform.
This license will enable the company to offer more secure financial solutions to its existing customer base of over 50,000 companies worldwide.
Aspire recently obtained a money services operator license in Hong Kong, which it sees as part of its strategic expansion plans in the region.
Aspire has more than 600 employees across nine countries, serving high-profile customers such as AirAsia, Love Bonito, Pizza Hut, and Endouus.
Last year, the company safe Achieved revenue from US$100 million Series C funding round, opening Established Singapore’s first Financial Technology Excellence Hub.
said Andrea Baronchelli, CEO of Aspire.
“Securing the in-principle approval of the MPI license from MAS is an important validation of our commitment to building a robust and secure financial ecosystem for businesses in Asia and the rest of the world.As a Singapore-based company, We are especially proud to have received this recognition from one of the world’s most respected regulatory authorities.
We look forward to deepening our collaboration with MAS as we continue to drive innovation and growth in the region’s SME and startup ecosystem. As we continue to grow, our commitment to security and compliance remains at the core of everything we do. ”
