Aspire hits $1 Billion in Transaction Volume less than 12 months from its business account launch, launches Automated Bill Payments

Published on
September 27, 2021
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Aspire hits $1 Billion in Transaction Volume less than 12 months from its business account launch, launches Automated Bill Payments
Southeast Asia’s first digital business account today announced its $1 Billion transaction volume record in less than a year along with its newest feature launch, an AI assistant to automate bill payments, integrated in its all-in-one business account
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Singapore, 11 May 2021 - Aspire has reached $1 Billion (USD) in annualised transaction volumes, within one year of the launch of its business accounts in May 2020. Today it announced the launch of its Bill Pay feature, which allows businesses to pay an invoice by simply forwarding an email.

Aspire offers growing businesses across SouthEast Asia access to a suite of financial products through its all-in-one finance platform. Similar to Brex in the US, Aspire offers a more digital and cost-effective way for growing businesses to manage their money. The company serves thousands of businesses in the region, and had also recently launched an incorporation offering in its bid to be the one-stop shop across any entrepreneur’s journey.

It’s latest feature, Bill Pay, automates a company’s invoice payment processes by eliminating manual data entry and reconciliation. Company owners simply forward their invoices via email to Aspire’s AI-assistant, which uses a combination of optical character recognition and deep learning to identify the payment details and payment date. The user then gets a notification to do a final check and to approve the payment for the scheduled date. All of the transactions sync seamlessly with accounting systems integrated with Aspire, like Xero, Quickbooks, and others. Users can also opt in to automatically schedule the payment to maximise payment terms and improve the company’s cash flow.

“We are filling a $150 Billion demand gap for better, faster, and cheaper financial services for businesses in SouthEast Asia,” said Andrea Baronchelli, Founder & CEO of Aspire, “And we will continue to release innovative products targeting growing businesses, such as Bill Pay, to help founders save time and money, and use those resources to grow their business instead”.

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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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Aspire is the all-in-one finance operating system for businesses. Our mission is to empower the next generation of entrepreneurs with the financial tools they need to realise their company’s full potential.
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