Singapore-based fintech Aspire has announced the receipt of its Electronic Money Institution (EMI) licence, marking its official entry into the European Union.
The newly received EMI licence supports Aspire in setting the stage for its Dutch operations and enables the company to scale its operations across Europe. Additionally, it facilitates pan-European coverage for clients and allows Aspire to provide its solutions to startups, scale-ups, and mid-market companies across the Netherlands and the wider region.
Expansion at scale
The rollout consisted of Aspire signing a formal investment commitment with the Dutch Ministry of Economic Affairs, choosing to set its European base in the Netherlands. The decision was based on the country’s solid regulatory environment, simplicity in conducting business operations, and role in Europe’s fintech and payment ecosystem. These are set to support Aspire in advancing its development strategy across Europe.
Talking about the strategic move, Andrea Baronchelli, Co-Founder and CEO of Aspire, mentioned that the EU EMI licence represents a key milestone in the company’s growth ambitions, as it offers the regulatory foundation to serve its 50,000 existing clients as they scale internationally, while also delivering its unified, intelligent Financial Operating System to European companies that operate across borders.
Adding to this, Hilde van der Meer, Commissioner, Netherlands Foreign Investment Agency (NFIA), stated that, as Europe solidifies its position as a hub for innovation and the Netherlands plays a central role in supporting companies in expanding across the region, Aspire’s decision to invest in the country reflects the capabilities of the Dutch fintech ecosystem. Additionally, the move underlines the NFIA’s commitment to supporting global businesses that contribute to Europe’s economic advancement.
Furthermore, Aspire’s European entry comes on the heels of several other regulatory milestones for the company. For example, Aspire has obtained a full Australian Financial Services Licence (AFSL), allowing it to provide its Financial OS, including multicurrency accounts, payments, cards, and spend, to Australian businesses. Additionally, in the US, the company has registered as a Money Services Business (MSB) and with the Securities and Exchange Commission (SEC) as a Registered Investment Adviser. With these approvals, Aspire can deliver its broader financial suite to US companies while also assisting with its planned US launch in 2026.
