Funding round
Aspire Series A
Aspire, which works in business financial solutions platform development in Singapore, raised $33M in a Series A round announced on 1 Aug 2019, led by MassMutual Ventures. 5 firms took part. It is Aspire's first venture round on record.
$33M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Aspire did not disclose a valuation in this round. It is Aspire's first venture round on record, 1 year after it was founded in 2018. It is 4.6% of the $700M Aspire has raised in the venture rounds on record. Aspire raised again 25 months later: a Series B round of $158M in Sep 2021.
Investors
Who put money in
MassMutual Ventures led the round with 4 other firms.
Lead investor
- backs 79 venture-backed companies new investor
Also in the round
- Arc Labs new investor
- Y Combinator backs 1,295 venture-backed companies new investor
- backs 42 venture-backed companies new investor
- backs 108 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
49 Series A rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $9.2M, and this round was 3.5 times the median. The closest in time, other companies' Series A rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 16 Jul 2019 | $18M | not disclosed | Bain Capital Ventures |
| Payment Processing & Point of Sale | 2 Sep 2019 | $12M | not disclosed | Trinity Ventures |
| Payment Processing & Point of Sale | 26 Sep 2019 | $12M | not disclosed | Tribe Capital |
| Payment Processing & Point of Sale | 26 Sep 2019 | $12M | not disclosed | Tribe Capital |
| Payment Processing & Point of Sale | 4 Sep 2019 | $10M | not disclosed | Moneta-Venture Capital |
| Payment Processing & Point of Sale | 1 Sep 2019 | $5.0M | not disclosed | not named |
| Checkout.com Payment Processing & Point of Sale | 30 Jun 2019 | $230M | not disclosed | not named |
| Payment Processing & Point of Sale | 17 Oct 2019 | $77M | not disclosed | Accel |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Aspire raise in its Series A round?
Aspire raised $33M in its Series A round, announced in Aug 2019.
Who led Aspire's Series A round?
MassMutual Ventures led it, with Arc Labs, Y Combinator, Hummingbird VC and Picus Capital.
What was Aspire's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Payment Processing & Point of Sale?
49 Series A rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $9.2M, and this round was 3.5 times the median.
Did Aspire raise again after this round?
Yes: a Series B round in Sep 2021 of $158M.