Modern Australian
Men's Weekly

.

Aspire Receives In-Principle Approval for Major Payment Institution License from Monetary Authority of Singapore

SINGAPORE - Media OutReach Newswire - 17 October 2024 - Aspire, a Singapore-headquartered all-in-one finance platform for modern businesses, today announced that it has received In-Principle Approval (IPA) for the Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS).



Aspire Receives In-Principle Approval for Major Payment Institution License from Monetary Authority of Singapore
Aspire Receives In-Principle Approval for Major Payment Institution License from Monetary Authority of Singapore

Aspire offers businesses a unified suite of financial services including international payments, corporate cards, and payable and receivable management - accessible via a single, user-friendly account. This milestone marks a significant step forward in Aspire’s mission to build the most user-centric finance stack for the modern global economy.

Andrea Baronchelli, CEO of Aspire, commented on the achievement: “Securing the In-Principle Approval for the MPI license from MAS is a significant validation of our commitment to building a robust and secure financial ecosystem for businesses globally. As a homegrown Singapore company, we are especially proud to receive this recognition from one of the world’s most respected regulators. We look forward to deepening our collaboration with MAS as we continue to drive innovation and growth for the SME and startup ecosystems in the region.”

Singapore’s strategic position as a leading international financial hub and gateway to Asia makes this approval even more crucial for Aspire. The company is uniquely positioned to leverage Singapore’s robust regulatory environment and dynamic market landscape to deploy localized solutions that cater to the specific needs of Singaporean businesses while also expanding its world-wide reach. Notably, Aspire also recently announced the acquisition of the Money Service Operator license in Hong Kong, a key milestone in its strategic expansion plans.

“As we continue to scale, our commitment to security and compliance remains at the core of everything we do,” says Andrea Baronchelli. “We’re not just building a finance platform; we’re building a future where financial institutions put their customers first, empowering businesses to thrive with confidence in their solutions.”

Headquartered in Singapore, Aspire has over 600+ employees across nine countries and is backed by global top-tier VCs, including Sequoia, Lightspeed, Y-Combinator, Tencent and Paypal. As a trusted partner to Asia’s fastest-growing SMBs and startups, Aspire counts AirAsia, Love Bonito, Endowus, Pizza Hut and Tech In Asia among its 50,000+ valued clients in the region. The company continues on a robust growth trajectory. After securing a $100 million USD Series C funding round and achieving profitability last year, the company opened its first Financial Technology Excellence Hub in Singapore and was named one of CB Insights’ top 100 global fintech companies.
Hashtag: #Aspire



The issuer is solely responsible for the content of this announcement.

Aspire

Aspire is the all-in-one finance platform for modern businesses globally, helping over 50,000 companies save time and money with international payments, expense management, payable management, and receivable management solutions - accessible via a single, user-friendly account.

Headquartered in Singapore, Aspire has over 600+ employees across nine countries and is backed by global top tier VCs, including Sequoia, Lightspeed, Y-Combinator, Tencent and Paypal. In 2023, Aspire closed an oversubscribed US$100M Series C round and announced that it has achieved profitability.

Restaurants Risk Compliance Issues Amid Commercial Plumber Shortage

As demand for housing, roads and facilities increases, so does the demand for trade workers. According to Infrastructure Australia, the construction i...

The Importance Of A Professional Medical Fitout Melbourne For Modern Healthcare Facilities

Healthcare environments must operate with precision, efficiency, and a strong focus on patient comfort. A well-planned medical fitout Melbourne hel...

Top Safety and Comfort Features to Consider in Family Off Road Caravans

Exploring Australia’s coastline, bush tracks or outback locations is far more enjoyable when travelling in a caravan designed for both comfort and...

“Logistical Nightmare” – Rural and Remote Communities Supply Chain Nightmares

Australia’s road logistics need major reform to counteract the supply chain issues that are hitting rural and regional communities hard. With 80% of...

The Importance Of Quality Bait Boards For Boats To Enhance Fishing Efficiency And Comfort

Fishing enthusiasts understand that having the right equipment on board makes every trip smoother and more enjoyable. One essential accessory for an...

The Essential Safety Gear Every Tradesman Needs

Across industries like construction, electrical work, plumbing, carpentry, and welding, workers face hazards every single day. For tradesmen, having...

Best POS System Features That Boost Customer Experience

Source: Unsplash Starting and scaling a retail business is unlikely possible without an effective Point of Sale (POS) system. It is the tech heartbe...

Understanding SMSF Setup Online and Why More Australians Are Choosing Digital Fund Establishment

liManaging your own superannuation gives you greater control over investments, retirement planning, and long-term financial decision-making. As inte...

Double Carport: Complete Guide to Design, Cost, and Installation

A double carport provides practical, cost-effective protection for two vehicles whilst adding value and functionality to your property. Whether you're...

How External Blinds and Awnings Improve Comfort, Privacy, and Energy Efficiency

Outdoor comfort and protection are essential for homes and commercial properties, especially in regions with strong sunlight, high UV exposure, and ...

Worksite Comfort Upgrades That Boost Team Productivity

Jobsite productivity doesn’t depend solely on tools, training, or scheduling. It also hinges on something often overlooked: worker comfort. When e...

NDIS Occupational Therapy: Your Complete Guide to Accessing Support and Services

Occupational therapy plays a crucial role in helping NDIS participants achieve their goals and improve their daily living skills. For people with disa...

How to Start Trading Futures in Australia: Markets, Margin and Regulation

Futures trading has become increasingly popular among Australian traders seeking opportunities across global commodities, indices, currencies and ener...

The Importance Of Residential Scaffolding For Safe And Efficient Home Projects

Home construction and renovation projects require reliable access systems that prioritise both worker safety and structural stability. Whether the p...

Understanding All on 4 Dental Implants and Their Benefits for Full Mouth Restoration

Tooth loss can affect daily life in many ways, including chewing difficulties, speech problems, facial changes, and reduced confidence. Modern denti...

Why Removalists Are Essential for a Smooth, Safe, and Hassle-Free Moving Experience

Moving homes or offices can be overwhelming, especially when you’re trying to balance packing, organising, heavy lifting, and time-sensitive deadl...

Understanding Domestic Violence Orders in Queensland

Domestic violence is an issue that affects many households. This article will break down the key aspects of Domestic Violence Orders (DVOs) in Queen...

Why A Smart Lock Is Becoming An Essential Upgrade For Modern Home Security

Homeowners today are placing greater importance on security, convenience and technology in their living spaces. One of the most significant advancem...