Aspire targets 2027 breakeven, taps Antler for startup push

Aspire, a startup providing a financial operating system for businesses, is aiming to break even by mid-2027, CEO and co-founder Andrea Baronchelli told Tech in Asia in a recent interview. The target holds steady even as competition from rival fintech firms and traditional banks intensifies.

The Singapore-headquartered company competes with firms like Airwallex in the business banking and enterprise resource planning software space, offering tools like invoicing and spend management.

Aspire CEO and co-founder Andrea Baronchelli / Photo credit: Aspire

Aspire says its total payment volumes have grown at an average of 50% year over year since inception. The company has raised around US$300 million in funding to date.

This year, it aims to accelerate that growth to 60% by rolling out new products and expanding into new markets like the US, Australia, and Europe, where it clinched several key payment licenses last year.

To get there, Aspire plans to increase its customer base of startups and mid-sized companies, both in Asia and globally.

Doubling down on startups

Aspire serves some 50,000 businesses, a majority of which are in Asia, particularly Singapore. Startups and mid-market businesses currently make up more than 80% of its revenue. The remainder comes from enterprises, which the firm defines as those with more than 250 employees.

Without sharing specifics, Aspire says the number of early-stage startups it caters to has grown 46% year on year. The company is aiming to more than double that customer base this year.

A new partnership with early-stage investor Antler announced today is expected to accelerate this push. Under the arrangement, Antler’s portfolio companies – both new and existing – will get exclusive discounts and rewards across Aspire’s suite of products. They can also access priority onboarding and promote their services to other Aspire customers.

See also: Aspire’s fintech solutions have earned SMEs’ trust. Now comes a loyalty test

Sales cycles in enterprise software can stretch for months to over a year. This is why targeting companies – especially startups – in their early stages gives Aspire the best chances of closing deals.

“It’s much easier to look at someone that is choosing their [financial software] stack for the first time and let them choose you from the get-go,” Baronchelli says.

Large enterprises often require many layers of approvals before switching software providers. In contrast, younger companies are typically more flexible and “easier for us to engage,” Baronchelli explains.

A crowded space