Modern Australian

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.

How Portable Cool Rooms Can Enhance Event Catering: The Perfect Solution for Outdoor Events

If you are holding an event outdoors, then there should be quality food; otherwise, a well-planned outdoor event will not be successful. Because c...

Successful Launches Using White Label Crypto Exchange Software

The cryptocurrency market has witnessed exponential growth in recent years, prompting many entrepreneurs and businesses to enter the space. One of t...

Space and Design Optimization for a Bathroom Renovation in Melbourne

Bathroom re-designing in Melbourne might present a challenge when first considered but, with the right approach, it is definitely achievable. Aesthe...

Dogging Training in Adelaide: Essential Skills for Load Handling and Safety

Dogging training is among the essentials for professionals in Adelaide, who are in charge of the supervision of crane operations and safe slinging...

What Are the Rules for Keeping in Touch Days in Australia?

Returning to work after parental leave can feel like a big leap, but "keeping in touch days" are designed to ease that transition. In Australia, these...

Navigating the Geelong Building Design Process: From Concept to Completion

Geelong home design requires a lot of thinking right from the conception to the product. Think about the perfect home you are going to have, locat...

Quiet Nights and Peaceful Days: The Benefits of Noise-Reducing Double Glazing

Are you tired of the constant noise from traffic, barking dogs, or rowdy neighbors disrupting your peace? Imagine coming home to a quiet, peaceful s...

Top 10 Unique Party Themes for Adults: Creative Ideas for Memorable Celebrations

When it comes to adult birthday parties or milestone events, it’s time to think outside the box. Forget the ordinary and dive into unique, creativ...

Anniversary Gift Ideas: What to Give for Every Milestone Year

Celebrating anniversaries is a beautiful tradition that allows couples to reflect on their journey together and express love and appreciation. Wheth...

The Durability of 2HSL Floats: Why Investing in Quality Saves Money Long-Term

Well-assembled floats should assure long-term performance. A long-term saving might be from not having to replace or repair floats put into good u...

15 Top Restaurants in Wynnum Manly QLD

Brisbane’s bayside suburbs of Wynnum and Manly are home to a vibrant culinary scene, offering stunning water views, local charm, and delicious eats...

Importance of Gym Cleaning for Customer Satisfaction and Loyalty

A clean gym is essential for building customer satisfaction and loyalty. Members are more likely to return to a fresh and hygienic space.  Maintai...

5 Mistakes to Avoid When Choosing Affordable Electricity Providers

Selecting the right electricity provider can save you a lot of money on your energy bills. With so many cheap electricity providers to choose from...

Best Electrical Services Perth: What to Look For

To help find the best electrical services Perth, you should know what criteria to look for to get top-of-the-line service. When it comes to your h...

Commercial Construction Companies Melbourne: Building the Future of Urban Development

Melbourne has many highs, considering rocking and bigger skylines, and urban and industrial developments. The city is skyrocketing in buildings an...

Sydney Off Road Trips - Yes, They Exist

Are you ready for the adventure of a lifetime? When it comes to exploring in caravans, Sydney residents may not realise how easy it is to get away...

Navigating Australia's Vast Terrain: The Importance of GPS Tracking for Fleet Management

The challenges of managing a fleet in Australia's vast terrain In a country as expansive and diverse as Australia, managing a fleet of vehicles can...

Choosing the Right Promotional Products for Your Target Audience

Promotional products are one of the most powerful marketing tools available. When done right, these branded items not only keep your business top of...