Fintech
Singapore Fintech Aspire HQ enters Hong Kong, positioned for further growth across Asia
Acquires the Money Service Operator (MSO) license.
SINGAPORE AND HONG KONG SAR – Media OutReach Newswire – May 29, 2024 – Aspirea leading all-in-one financial platform based in Singapore, today announced that it has successfully obtained a Money Services Operator (MSO) license issued by the Hong Kong Customs and Excise Department.
Aspire acquires Hong Kong MSO license
Aspire offers a unified suite of financial solutions to small and medium-sized businesses (SMEs) in Hong Kong, including the ability to open local business accounts for debit and credit management, international payments, as well as payment gateway solutions. Aspire’s integrated solution is designed to help Hong Kong’s fast-growing SME segment across all sectors facilitate multi-currency liquidity management, as well as domestic and cross-border money transfers.
In the context of the city’s macro challenges, Hong Kong is witnessing a local reimagining of business digitalisation, with 93% of local SMEs recognizing digitalisation as vital to their company’s growth. At the same time, the city is seeing an entrepreneurial boom, with the number of startups tripling in the last decade. according to InvestHK. Aspire is well prepared to meet the needs of this new generation of increasingly digitally oriented startups and SMEs, providing them with a robust and integrated platform to streamline corporate finance operations, saving time and money.
“With the exponential growth of Hong Kong’s digital economy, there is a clear demand for reliable and integrated financial solutions,” said Andrea Baronchelli, CEO and co-founder of Aspire. “At Aspire, we have always believed in tailoring our offerings to the specific needs of each market and we are proud to now be able to provide SMEs in Hong Kong with the financial tools they need to drive their growth.”
The acquisition of this operating license paves the way for Aspire’s broader strategic expansion across Asia, while underlining its strict adherence to the regulatory requirements of each country in which it operates.
“Hong Kong represents a thriving ecosystem for startups and fintechs around the world, providing an environment conducive to growth and innovation,” says King Leung, global head of financial services and fintech at InvestHK. “We are happy to welcome regional fintech startups like Aspire and wish Aspire every success in Hong Kong.”
“Hong Kong represents a dynamic, business-oriented innovation hub for Asia, with a strong commitment to building a highly secure and stable fintech infrastructure,” says Andrea Baronchelli. “We are very proud to work closely with Hong Kong regulators as we embark on this exciting chapter. As we look to the future, our vision remains steadfast: to build the future of corporate finance for modern businesses, driven by innovation, security and reliability.”
This achievement represents another milestone in Aspire’s growth journey in Asia. Since its founding in 2018, Aspire has raised more than $300 million from global investors and was recently recognized as one of the The 100 most promising fintech startups globally. It has a customer base of more than 15,000 companies across Asia, including Air Asia, Carousell, Love Bonito, Endowus and Tech In Asia, and has announced it has achieved profitability in 2023.
Hashtag: #Aspire
The issuer is solely responsible for the content of this announcement.
Aspire
Aspire is the all-in-one financial platform for modern businesses, helping over 15,000 businesses across Asia save time and money with international payments, expense management, debt management and credit management solutions, accessible via a single intuitive account.
Headquartered in Singapore, Aspire has more than 450 employees across five countries and is backed by top-tier global VCs, including Sequoia, Lightspeed, Y-Combinator, Tencent and Paypal. In 2023, Aspire closed an oversubscribed $100 million Series C round and announced it had achieved profitability.
