Aspire Bolsters Indonesian Workforce Amidst Tech Downsizing, Opens Opportunities for New Talent Across Asia

(Jakarta, January 31st 2024) For tech companies across the world, the last few years have been marked by a 'growth at all costs' mindset. But the aftermath of this approach has led to many businesses - especially growing startups -  facing severe consequences. 

The recent spate of layoffs in the tech sector doesn’t seem to be slowing down, with ~40% of companies stating that they expect downsizing to continue in 2024. Indonesia has not been spared by this trend, with more than 7000 people affected over more than 50 rounds of layoffs. 

Amid these industry challenges, Aspire, a fintech company headquartered in Singapore and offering a comprehensive suite of finance solutions to Indonesian businesses, including business accounts, spend management, and payment gateway services, is maintaining a robust growth path.

Aspire recently announced the unveiling of its HQ in Downtown Singapore and plans to double its workforce by 2025, a move that highlights its commitment to expanding its operations and reinforcing its regional influence. Additionally, Aspire has opened an office in Hong Kong, where it is actively hiring for commercial roles across various departments. 

In Indonesia, Aspire's growth strategy continues unabated with focused recruitment in key roles ranging from partnerships to product management. This targeted expansion in Indonesia is a crucial part of Aspire's broader strategy to harness the growth potential within the Asian market. 

Additionally, Aspire has introduced a country-specific solution – a payment gateway under enterprise API – tailored to meet the unique needs of the Indonesian market, through the acquisition of Duitku, a payment Gateway company that has acquired Payment processing license 2 and 3 from Bank Indonesia. Demonstrating its commitment to adapting its offerings in response to local market requirements.

"Despite the global tech sector's challenges, Aspire is on a strong growth trajectory across Asia. Our focus on attracting top talent remains priorities, as we believe that our team is our biggest asset leading to our continued success and growth in this dynamic market." said Ferdy Nandes, General Manager of Indonesia 

Earlier last year, the company secured a substantial $100 million in Series C funding, one of the largest oversubscribed funding rounds in 2023 and announced their profitability, less than 3 months after said funding round. The company was most recently awarded as one of the Straits Times 10 Fastest Growing Companies in Singapore based on revenue growth, which grew over 100% YoY in Indonesia last year.

Consistently elected as the #1 Top Startups by LinkedIn for 3 consecutive years, Aspire's commitment to employee welfare is unwavering. In stark contrast to the downsizing and mandatory return-to-office trend that is prevalent in Indonesia, Aspire is razor focused on growing its team. 

The company's flexible work policies, where teams can decide which day they want to collaborate offline, and their uncapped leave benefits policy, further emphasize their dedication to work-life balance and attracting high-caliber talent.

Aspire is hiring 50+ roles in crucial departments across Asia, including for its Indonesian office. For more information about Aspire's career opportunities and company culture, please visit https://aspireapp.com/id-ID/careers

About Aspire 

Aspire is the all-in-one finance software for growing businesses. The company serves over 15,000 startups and SMBs in Southeast Asia, 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 450 employees across four countries and is backed by global top tier VCs, including Sequoia, Lightspeed, and Y-Combinator.