The Series C round “more than doubled” its valuation, Chief Executive Officer Andrea Baronchelli said in an interview. It’s raising funds at a difficult time for tech startups — global venture funding in the fourth quarter of 2022 fell to the lowest level in more than two years, according to CB Insights.
Aspire Pte, a fintech startup serving businesses, raised US$100 million ($133.4 million) in a round that more than doubled its valuation, defying a market downturn for young tech firms.
The Singapore-based company said in a statement Tuesday it struck a deal for financing led by Lightspeed and Sequoia Capital Southeast Asia. Paypal Ventures, Tencent Holdings Ltd., LGT Capital Partners and previous investors also participated.
