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

Why Car Enthusiasts Are Turning to Container Shipping for Interstate Moves

Moving across the country requires careful planning and plenty of patience. The scale of domestic ...

What to know if you’re considering an EV

Soaring petrol prices are once again making many Australians think seriously[1] about switching ...

Epson launches ELPCS01 mobile projector cart

Designed for the EB-810E[1] projector and provides easy setup for portable displays in flexible ...

Governance Models for Headless CMS in Large Organizations

Where headless CMS is adopted by large enterprises, governance is the single most crucial factor d...

Narwal Freo Z10 Robotic Vacuum and Mop Cleaner

Narwal Freo Z10 Robotic Vacuum and Mop Cleaner  Rating: ★★★★☆ (4.4/5) Category: Premium Robot ...

Shark launches SteamSpot - the shortcut for everyday floor mess

Shark introduces the Shark SteamSpot Steam Mop, a lightweight steam mop designed to make everyda...

The Times Features

AI Is Already Here. The Question Is Whether Your Business Is Built for It

We sat down with Nirlep Adhikari — CTO at LoanOptions.ai and Founder of Mount Mindforce — to cut...

Cleared to Land — and Cleared to Die: How a Runway Failure Killed Two Pilots in Seconds

A modern passenger jet, operating under full clearance, descending onto a controlled runway at o...

Leader of The Nationals Matt Canavan - press conference

CANBERRA PARLIAMENT HOUSE PRESS CONFERENCE WITH SHADOW WATER MINISTER MICHAEL McCORMACK; MURRAY-DA...

The Power Of An Uncomfortable Love

How challenging relationships can help us grow. Never have we lived in a time where relationshi...

US country favourite Larry Fleet joins 2026 Gympie Music Muster

Tennessee singer-songwriter Larry Fleet will bring his band to the Gympie Music Muster on Friday...

56 OF YOUR FAVORITE DISNEY STARS SHINE BRIGHT IN DISNEY ON ICE PRESENTS MAGIC IN THE STARS!

The most Disney characters in one show and the on-ice debut of Raya from Raya and the Last Dragon...

How much do you really need to retire? It’s probably a lot less than $1 million

Every few months, someone in the superannuation industry declares that Australians now “need” ar...

South Australian Nationals to open up local oil from Great Australian Bight

Amid out-of-control inflation and impacts from the Middle East conflict, The South Australian Na...

How does your super balance compare to other people your age?

If you have ever checked your super balance and wondered whether you are “behind” for your age, ...