Singapore-based fintech firm Aspire has raised $100m in its Series C funding round led by LightSpeed and co-led by Sequoia Capital.

PayPal Ventures, LGT Capital Partners and the company’s existing backers Picus Capital and Mass Mutual Ventures also participated in the round. 

Aspire plans to use the funding to expand its product portfolio, further build its regional presence and add more talent across the region in 2023. 

The fintech, which was established in 2018, provides businesses with a wide range of financial services, including corporate cards, foreign payments, and payable and receivable management.

Aspire noted that the latest will help it in maintaining development trajectory.

Aspire co-founder and CEO Andrea Baronchelli said: “From delivering real-time financial data, to fast and transparent cross-border payments, to empowering business teams with world-class spend management capabilities to move fast and move right – we look forward to empowering every modern business, big or small, with the right financial tools to realize their full potential.”

Lightspeed partner Bejul Somaia said: “Aspire has emerged as a leader in the B2B fintech space in Southeast Asia, with a complete end-to-end product for managing business finance, a strong track record of growth, and solid fundamentals. 

“We are excited to partner with this world-class team to support their vision for the future of financial services in the region”.

In September 2021, Aspire raised $158m in Series B funding.