Aspire Receives in-principle Approval for Major Payment Institution License From Monetary Authority of Singapore 

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 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 milestone: “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 across Asia and beyond. 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 financial 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 SMEs and startups, Aspire counts AirAsia, Love Bonito, Endowus, Pizza Hut and Tech In Asia among its 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.