Together with Aspire, Tenity empower global startups with all-in-one financial solutions

Published on
May 2, 2024

Benefits of partnering with Aspire:

  • Empowering Tenity’s clients regional expansion with their hassle-free finance operations
  • Exclusive opportunities to do co-marketing activities with Aspire to increase on brand awareness 

About Tenity: a global startup accelerator for finance startups

Tenity is a global innovation ecosystem focused on financial technology (Fintech) and insurance technology (Insurtech). They act as a startup incubator, accelerator, and early-stage investor. Tenity helps promising tech startups in the financial sector by connecting them with established corporations, investors, and mentors. This not only fosters collaboration but also fuels innovation that shapes the future of finance.

The Challenges: The hassle of creating business bank account for a newly incorporated startups

Opening a corporate bank account in Singapore can be a hurdle for companies and startups going through incorporation, especially when dealing with traditional banks. These banks are known for their strict requirements and lengthy application processes, which can be a hassle for new businesses with limited resources. This delay in acquiring a business bank account can significantly impact a company's ability to operate efficiently, potentially leading to a delay in receiving funding or any payment for Tenity’s startup which may hinder the startup’s growth. 

For instance, traditional banks may request a significant amount of documentation during the application process, such as detailed business plans, financial projections, and certified corporate resolutions. Credit checks and minimum deposit requirements are also common. The entire process can take weeks or even months to complete, leaving startups waiting to fully start their operations. 

The Solution: Aspire’s quick and easy business account opening for Tenity’s client 

Aspire can be a game-changer for Tenity and its portfolio companies by streamlining their financial operations from the get-go.  Unlike traditional banks, Aspire offers a completely online onboarding process, allowing startups to open multi-currency business accounts quickly and efficiently. This eliminates the hassle of paperwork and lengthy wait times, freeing up valuable time and resources for these young companies to focus on growth.  Furthermore, Aspire empowers both Tenity and its startups with robust expense management tools. Virtual cards can be issued and controlled effortlessly, providing a secure and transparent way to manage company spending. Competitive foreign exchange rates for international transfers ensure cost-effective financial operations on a global scale. With Aspire, Tenity can offer its portfolio companies a modern and efficient financial solution that fosters their early success.

“We value our partnership with Aspire because they epitomize the essence of a startup themselves, grasping the intricacies and hurdles our portfolio companies face. With many of our startups situated regionally, establishing a presence in Singapore can be daunting. Aspire serves as an invaluable ally, offering a comprehensive suite of services to streamline the setup of their financial systems in Singapore—a pivotal step for our ventures.

Their commitment to exceptional customer service is evident in every interaction. Time and again, we've witnessed instances where our portfolio companies encounter payment challenges, only to have them swiftly resolved thanks to Aspire's clear escalation process and readily available human support.

In essence, Aspire's deep understanding of startup dynamics coupled with their unwavering dedication to client satisfaction make them the ideal partner for ourselves and our startups.” 

- Finley Lee, APAC Head of Operations and Delivery of Tenity

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