Singapore-based fintech Aspire has secured a European electronic money institution (EMI) licence and selected the Netherlands to host its continental base of operations as the company looks to expand into the European Union (EU).
Founded in 2018 by CEO Andrea Baronchelli and CTO and president Giovanni Casinelli, Aspire offers what the company describes as an “all-in-one finance platform for modern businesses”, combining a multi-currency business account with solutions for international payments, cards, treasury, expenses, invoices, and accounts payables and receivables.
The fintech’s platform currently supports over 50,000 organisations across more than 30 markets.
With the new licence and European headquarters, Baronchelli says that Aspire now has the regulatory footing it needs to support its clients “as they expand internationally”. He adds the expansion will also bring Aspire’s “Financial Operating System to thousands of European companies that operate across borders from day one”.
Aspire has signed a formal investment commitment with the Dutch Ministry of Economic Affairs to set up its European hub – a move Hilde van der Meer, commissioner of the Netherlands Foreign Investment Agency (NFIA), has said will strengthen the country’s fintech ecosystem.
Aspire has appointed Dajana Nozić to lead the company’s entry into the EU and the establishment of its European hub. Nozić will be supported by former Revolut executive Akash Kaul, who will help drive the European expansion as VP global expansion and growth.
The company already has a presence in countries such as Australia, through its Australian financial services licence (AFSL), and the US, where it is a registered money services business (MSB) and a registered investment advisor.
In April, Aspire also strengthened its offering in Singapore by acquiring a capital markets licence (CMS) from the Monetary Authority of Singapore (MAS).
Source: https://www.fintechfutures.com/
