3 min read
COLABS, a Lahore-based co-working space envisioning a platform of 100,000 empowered entrepreneurs is eyeing international players as their partners. In its journey, it has partnered with a Singapore-based, all-in-one finance solution for growing businesses. As per Railsbank, the leading global open banking platform, Singapore-based Aspire, a digital platform providing financial solutions for small and medium businesses, is the first SME-focused Neobank in Southeast Asia to use its Singapore Dollar (SGD) bank accounts.
Aspire is serving a new generation of digital-savvy businesses with a mobile-first business account. The flagship Aspire Business Account can be opened online in just a few clicks with no minimum deposit and no monthly fees. It comes with a Visa Corporate Card and an instant revolving credit line for daily business expenses and other tools to help business owners with cash flow management. The leading SME-focused fintech is currently operating across Singapore, Indonesia, Thailand, and Vietnam, and is collaborating with Railsbank’s SGD bank account to complement its unique digital banking experience for its SME customers.
COLABS on the other hand is helping businesses deal with better cash flow management through COLABS Business Solutions. Partnership with Aspire is one of the key highlights to serve the ecosystem of startups in Pakistan. Aspire specifically focuses on the Southeast Asian region of the internet economy, which essentially is going to empower the ecosystem within the region. As 2021 has seen exponential growth in the Southeast Asian region, in terms of gaining international exposure from investors, this partnership has the potential to add more value.
Through this partnership, Aspire has come up with a special promotion for the COLABS community and referred startups. The following mutually beneficial corporate terms have been designed exclusively for the COLABS community:
FREE SG Company Incorporation (worth $2,000) or $1,500 upon depositing investors’ funds (min. USD100K) in an Aspire business account.
Access to the credit limit on Aspire Advance Card up to 5% of the funds raised in the last 6 months.
Get free access to tools from our Start-up partners worth $50,000 to start your business in SEA.
After Aspire was founded in 2018, it became a multiproduct company as it began providing working capital loans for small to medium businesses. Its portfolio of services now includes bank accounts for cross-border businesses, corporate cards, and automated invoice processing, all of which are connected to financial management software. Also, the company provides a service to incorporate Singaporean companies called Aspire Kickstart. Its mission is to empower the next generation of entrepreneurs with the financial tools they need to realize their company’s full potential.
COLABS will represent SaaS businesses and emancipate them through this partnership. The prospect economy of the Southeast Asian region alone is targeting a $300 billion internet economy. “This partnership will not only empower enterprises but will also cater to small and medium enterprises as well as the startup ecosystem”, said Saba Kalsoom, the partnerships representative from COLABS.
