Aspire receives licence from MAS, ready to launch support product for SMEs

Aspire has received a Capital Markets Services (CMS) licence from the Monetary Authority of Singapore (MAS), which will allow it to launch a new investment solutions created specifically for startups and growing businesses.

The upcoming product, Aspire Yield, will be introduced in the second quarter of 2025 and will help small and medium enterprises (SMEs) earn meaningful returns on idle capital. Integrated directly into the Aspire Business Account, Aspire Yield will allow business owners to manage their finances and investments in a single platform, eliminating the need to open separate accounts or navigate unfamiliar financial tools.

Unlike traditional savings accounts in Singapore, which typically offer interest rates ranging between 0.01% and 0.25% per annum, Aspire Yield will offer significantly higher returns that can get up to 3.75% on U.S. dollar cash deposits and up to 2.05% on Singapore dollar cash deposits. According to Aspire officials, these rates are after fees based on historical performance. Withdrawals can be made as soon as the next business day, and there are no lock-up periods or minimum investment requirements.

Andrea Baronchelli, CEO and co-founder of Aspire, said the idea for Aspire Yield came directly from customer feedback. “They typically leave cash in their checking account, and we think that it’s not the best use of their money,” he said. Many of these businesses, he added, lack the knowledge or internal processes needed to access traditional investment products and often don’t see investing as a routine part of managing their operations.

Aspire estimates that up to 90% of SMEs don’t invest, often due to limited financial literacy, lack of access to suitable products and liquidity concerns. Aspire Yield aims to change that by offering an easy, flexible solution that helps small businesses grow their capital – something traditionally reserved for large firms with strong banking ties.