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Aspire grows revenue 3x YoY, hits profitability 3 months after closing US$100m Series C

Written by
Content Team
Last Modified on
March 28, 2024

Just months after closing an oversubscribed US$100M Series C round, B2B fintech Aspire announced that it has achieved profitability. This was a result of its strong revenue growth and best-in-class unit economics, setting a new industry standard of sustainable growth.

Headquartered in Singapore, Aspire serves over 15,000 businesses, including over 5,000 businesses in Indonesia and thousands across the rest of Southeast Asia and APAC. Its product offerings range from corporate cards, multi-currency business accounts and FX payments, to payroll and expense management. The company has been expanding its client list, which includes popular companies like Air Asia, Carousell, Love Bonito, Endowus and Tech In Asia which it counts as customers.

In the past 12 months, the company tripled its yearly revenues, hitting profitability in the second quarter of 2023 and US$15B of annualized total payment volumes. This achievement came despite the headwinds of a challenging macro-economic environment that saw many companies impacted by widespread layoffs and downsizing.

“In today's increasingly volatile macro-economic climate, trust and safety have become paramount for businesses seeking financial solutions. With solid unit economics and partnerships with the region’s leading financial institutions, we have demonstrated a strong financial position and commitment to reliability. We’re proud to be the long term business finance partner our clients can depend on.” said Andrea Baronchelli, CEO of Aspire.

The company’s sustainable growth approach, strong market adoption and support of world-class investors including Lightspeed, Sequoia, Tencent and Paypal Ventures, has set strong foundations for its expansion plans in Southeast Asia and broader APAC. Aspire currently has over 400 headcount and is actively hiring for talented individuals, with 50+ open positions.

About Aspire

Aspire is the all-in-one finance software for new-age businesses. The company serves over 15,000 startups and SMBs, helping them save time and money with multi-currency accounts and cards, expense management, payable management, and receivable management solutions - all in one account.

Headquartered in Singapore, Aspire has over 400 employees across four countries and is backed by global top tier VCs, including Sequoia, Lightspeed, and Y-Combinator.

Website

https://aspireapp.com

Media Contact

Maddie Gupta
PR & Branding Lead
maddie.gupta@aspireapp.com

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About the author
Content Team
at Aspire is a society of seasoned writers & experts specialising in finance, technology and SaaS space. With 50+ years of collective experience, they help make business finance more profitable for readers. They write about finance tools, finance insights, industry trends, tactical guides to grow your business & also all things Aspire.
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