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.

Why Ugly Websites Sometimes Outperform Beautiful Ones

In the digital age, we're constantly told that first impressions matter, and nowhere does this seem more apparent than in web design. However, a cur...

TPD Claims & Super: What Does It All Mean?

Many Australians hear the term "TPD" in relation to their superannuation and feel completely lost. If you're scratching your head, wondering what it...

What Does Breastfeeding Feel Like? A Guide for New Moms

Frequently, numerous new mothers wonder, "What does breastfeeding feel like?" The feeling is different for each individual - a few describe it as a ...

Best Nail Care Routine for Frequent Nail Polish Wearers

For many people, nail polish is more than a beauty statement – it’s part of their everyday routine. Whether you love bold colours, chic neutrals...

Reinventing Research: How E-Libraries Are Changing Education Forever

A New Chapter for Learning For centuries libraries stood as temples of knowledge filled with shelves that smelled of dust and paper. Today the same...

Psychologists Explore Gestalt Vs Schema Therapy for PTSD Treatment

Recent research has revealed that in 2022, 1 in 9 Australians experienced post-traumatic stress disorder (PTSD). For some, this can significantly im...

Beyond Sunscreen: Building a Sun-Smart Culture in Modern Australia

Australia’s sun-soaked lifestyle is a defining part of its national identity. From beaches and sports fields to weekend barbecues and bushwalks, t...

What is Power BI & Why Should Your Business Use It?

In today's data-driven world, businesses are constantly searching for ways to gain a competitive edge. One tool that has emerged as a game-changer i...

From Service to Strength: How Aussie Veterans Are Rebuilding Their Lives with Everyday Support

Life after military service can bring new challenges. From physical limitations to mental health hurdles, many Australian veterans find everyday hou...

The Best Times of Year to Buy a Caravan

If you're shopping for caravans for sale, timing matters almost as much as the layout and features you desire. The calendar shapes price, stock and ...

The Growing Demand for Smart Living Through Home Automation

Technology has reshaped how we communicate, work, and travel—but now, it’s also changing the way we live at home. The rise of home automation i...

Beyond Clicks and Likes: Why Many Small Businesses in Australia Still Aren’t Leveraging Digital Marketing in 2025

Introduction In 2025, online marketing has become the driving force behind business growth for companies of all sizes. Yet, despite its proven effect...

Lighting Shop Perth: Your Comprehensive Guide to Choosing the Right Lighting Solutions

Lighting is a fundamental element in defining the ambiance, functionality, and aesthetic appeal of any space. Whether you are renovating your home, ...

Private Booze Cruisers – The New Must-Have Toy for Cashed Up Millennials

Did you hear that your 30s are the new 20s? We’ve finally rocked up that adult money and now it’s time to play with it. I was going for a walk ...

Grinding & Jaw Soreness: Signs You Might Need Night Guards and How We Protect Enamel

Waking with a tight jaw, tender muscles, or a dull temple headache is more than a bad night’s sleep. Many Australians grind or clench their teeth ...

Circular Interior Design: Furnishing with Salvaged & Reclaimed Materials

Circular interior design is gradually making its way from niche circles into mainstream Australian homes. At its core, this approach revolves around...

Invisible Braces vs Traditional Braces: Which Is Best for Adults?

Straightening teeth as an adult is common in Australia, and the options are better than ever. The two main choices are clear aligners, also called i...

Smoking, Vaping, and Healing: How Nicotine Affects Sockets and What you can do About it

Nicotine and oral surgery are a poor mix. After an wisdom teeth removal in Sydney, your body needs a stable blood clot and steady blood flow to rebu...