Funding round
Aspire Series B
Aspire, which works in business financial solutions platform development in Singapore, raised $158M in a Series B round announced on 26 Sep 2021, led by DST Global. 8 firms took part, with 7 individual investors. It is Aspire's second venture round on record; the one before was a Series A in Aug 2019.
$158M
Amount raised
of which $100M debt
Not disclosed
Post-money valuation
8
Investors
1 lead
Valuation
What this round says about the price
Aspire did not disclose a valuation in this round. It came 25 months after Aspire's Series A. It is 23% of the $700M Aspire has raised in the venture rounds on record. Aspire raised again 17 months later: a Series C round of $430M in Feb 2023.
Investors
Who put money in
DST Global led the round with 7 other firms.
Lead investor
- DST Global backs 179 venture-backed companies new investor
Also in the round
- CE Innovation Fund new investor
- new investor
- backs 15 venture-backed companies new investor
- backs 42 venture-backed companies new investor
- backs 79 venture-backed companies new investor
- backs 108 venture-backed companies new investor
- backs 11 venture-backed companies new investor
Individual investors: Taavet Hinrikus, Alexandre Prot, Steve Anavi, Pierpaolo Barbieri, Moses Lo, Hendra Kwik and Gerry Colyer.
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
74 Series B rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $41M, and this round was 3.9 times the median. The closest in time, other companies' Series B rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Addi Payment Processing & Point of Sale | 8 Sep 2021 | $75M | not disclosed | Greycroft |
| Payment Processing & Point of Sale | 21 Sep 2021 | $35M | not disclosed | Smartfin |
| Payment Processing & Point of Sale | 1 Sep 2021 | $24M | not disclosed | BlackFin and Partech |
| Payment Processing & Point of Sale | 14 Sep 2021 | $24M | $118M | Heliad and Neva SGR |
| Payment Processing & Point of Sale | 7 Sep 2021 | undisclosed | not disclosed | not named |
| Payment Processing & Point of Sale | 25 Aug 2021 | $116M | not disclosed | Greenoaks |
| Payment Processing & Point of Sale | 12 Oct 2021 | $50M | not disclosed | Unnamed institutional fintech investors |
| Payment Processing & Point of Sale | 19 Oct 2021 | $50M | $425M | ICONIQ Growth |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Aspire raise in its Series B round?
Aspire raised $158M in its Series B round, announced in Sep 2021.
Who led Aspire's Series B round?
DST Global led it, with CE Innovation Fund, B Capital Partners, Fasanara Capital, Hummingbird VC and MassMutual Ventures and 2 more.
What was Aspire's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Payment Processing & Point of Sale?
74 Series B rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $41M, and this round was 3.9 times the median.
Did Aspire raise again after this round?
Yes: a Series C round in Feb 2023 of $430M.