Singapore-founded B2B fintech company Aspire has raised US$100 million in fresh funding. The Series C round was led by Lightspeed and Sequoia Southeast Asia, and joined by Tencent, LGT Capital Partners, PayPal Ventures as well as existing investors Picus Capital and Mass Mutual Ventures.

Originally started to provide working capital to SMEs in 2018, the company has since diversified to take on a multiproduct approach. Its services now includes providing bank accounts for cross-border businesses, corporate cards and automated invoice processing—all of which are connected to financial management software.

According to the company, which serves more than 15,000 clients across Southeast Asia, it recently saw its annualised total payment volume triple to US$12 billion.

The new funds will be used to “build fuller features within our expense management and payable management modules,” says co-founder and CEO Andrea Baronchelli, in addition to expanding its regional offerings and deepening its ecosystem integrations.

The company also plans to hire more talent across the region this year, and in the next few years, according to Baronchelli, who is a 2022 Gen.T honouree, expand into new markets. Aspire currently has 400 employees across four countries in Southeast Asia.

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