The Times Australia
Google AI
News From Asia

.

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.

Times Magazine

AI is failing ‘Humanity’s Last Exam’. So what does that mean for machine intelligence?

How do you translate ancient Palmyrene script from a Roman tombstone? How many paired tendons ...

Does Cloud Accounting Provide Adequate Security for Australian Businesses?

Today, many Australian businesses rely on cloud accounting platforms to manage their finances. Bec...

Freak Weather Spikes ‘Allergic Disease’ and Eczema As Temperatures Dip

“Allergic disease” and eczema cases are spiking due to the current freak weather as the Bureau o...

IPECS Phone System in 2026: The Future of Smart Business Communication

By 2026, business communication is no longer just about making and receiving calls. It’s about speed...

With Nvidia’s second-best AI chips headed for China, the US shifts priorities from security to trade

This week, US President Donald Trump approved previously banned exports[1] of Nvidia’s powerful ...

Navman MiVue™ True 4K PRO Surround honest review

If you drive a car, you should have a dashcam. Need convincing? All I ask that you do is search fo...

The Times Features

What’s behind the surge in the price of gold and silver?

Gold and silver don’t usually move like meme stocks. They grind. They trend. They react to inflati...

State of Play: Nationals vs Liberals

The State of Play with the National Party and How Things Stand with the Liberal Party Australia’s...

SMEs face growing payroll challenges one year in on wage theft reforms

A year after wage theft reforms came into effect, Australian SMEs are confronting a new reality. P...

Evil Ray declares war on the sun

Australia's boldest sunscreen brand Australians love the sun. The sun doesn't love them back. Mela...

Resolutions for Renovations? What to do before renovating in 2026

Rolling into the New Year means many Aussies have fresh plans for their homes with renovat...

Designing an Eco Conscious Kitchen That Lasts

Sustainable kitchens are no longer a passing trend in Australia. They reflect a growing shift towa...

Why Sydney Entrepreneur Aleesha Naxakis is Trading the Boardroom for a Purpose-Driven Crown

Roselands local Aleesha Naxakis is on a mission to prove that life is a gift...

New Year, New Keys: 2026 Strategies for First Home Buyers

We are already over midway through January, and if 2025 was anything to go by, this year will be o...

How to get managers to say yes to flexible work arrangements, according to new research

In the modern workplace, flexible arrangements can be as important as salary[1] for some. For ma...