Aspire cuts FX fees to help entrepreneurs with global ambitions scale smarter
Rising global costs and tighter access to capital have made financial efficiency a critical priority for startups. Founders in Singapore and across the region are under mounting pressure to extend their runway and make every dollar count, especially as they expand into new markets.
From paying overseas suppliers and contractors to managing remote teams and launching in new geographies, cross-border payments are now routine for today's startups. In fact, 79% of Singapore SMEs report plans for greater international expansion, and 63% have increased their use of overseas suppliers and services. Despite this trend, Singapore businesses lose an estimated S$5.66 billion annually due to hidden FX markups and unclear exchange rate fees. These losses quietly erode already slim margins and reduce the capital available for growth.
Aspire's updated FX pricing ensures global transactions align with the way modern startups operate: lean, transparent, and built for speed. 'Many businesses today are global from day one, but they are losing margin to expensive rates and hidden and opaque fees,' said Andrea Baronchelli, CEO and co-founder of Aspire. 'At Aspire, we believe protecting the runway shouldn't come at the cost of international growth. By lowering our FX rates further, we're giving founders a faster, more cost-effective way to scale across borders without compromise. What you see is what you pay for.'
This is not a short-term adjustment by Aspire. This move underscores its ongoing commitment to helping founders scale efficiently today and in the long run, eliminating unnecessary costs and offering the best possible FX rates in the market.
The updated FX rates are available immediately to all Aspire Singapore business account users.
To learn more please visit https://aspireapp.com/global-payments.Hashtag: #Aspire
https://aspireapp.com/
https://www.linkedin.com/company/aspireapp-global/
The issuer is solely responsible for the content of this announcement.
Aspire
Aspire is the all-in-one finance platform for modern businesses globally, helping over 50,000 companies save time and money with international payments, treasury, expense, payable, and receivable management solutions - accessible via a single, user-friendly account.
Headquartered in Singapore, Aspire has 600+ employees across nine countries, clients in 30+ markets and is backed by global top tier VCs, including Sequoia, Lightspeed, Y-Combinator, Tencent and Paypal. In 2023, Aspire closed an oversubscribed US$100M Series C round and announced that it has achieved profitability.
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