Aspire's APAC Expansion: A Record-Breaking Success Story with Multiplier
Aspire is Asia’s premier fintech platform, delivering a comprehensive financial operating system tailored to the needs of thriving businesses in Southeast Asia. More than 10,000 businesses across 196 countries have harnessed Aspire’s cutting-edge technology to revolutionize how they approach banking — seamlessly merging it with innovative software solutions.
$1M+
Annual savings
80+
Employees onboarded
100%
Global compliance
Company
Aspire (Aspire Financial Technologies Holding Inc.)
Founded
2018
Company Size
100-250 Employees
Country
Singapore
Industry
Financial Services, Fintech
Website
www.aspireapp.com
The Challenge
After operating for over five years and with more than $158 million in funding, Aspire decided it was time to increase its team size to keep pace with its business objectives.
Yet, the shortage of skilled personnel and the high cost of hiring tech professionals in Singapore made domestic expansion a nonviable option. Aspire needed to access a larger talent pool, with India being their preferred choice for quality tech talent.
Aspire was aware that international expansion would bring substantial challenges. From recruiting talent to ensuring global compliance, the operational aspects were complex. This situation made payroll management a particularly demanding and time-consuming task.
“I’m in charge of recruiting, people operations, culture building, compliance, and talent management. We were exploring different markets for tech talent and engineers. And it was extremely expensive and in short supply in the local market.”
Melody Chen
Head of People, Aspire
The Solution
In search of quality tech expertise and a cost-effective solution, Aspire discovered Multiplier. Multiplier provided a solution that supported Aspire’s objectives and helped address their international hiring issues. Aside from Singapore, Aspire began considering global options, with India appearing as a strong choice due to its pool of talented tech professionals. Assisted by Multiplier, Aspire accessed a broad range of skilled tech professionals from India. Aspire quickly onboarded 80 employees from India, which allowed it to enhance operations and meet its growing needs swiftly.
Value Proposition:
- Affordable and adaptable pricing
- Multiplier’s proven efficiency in providing support and fulfilling needs within tight timelines
The Evaluation
In the realm of international employment and expansion, time is of the essence. Recruitment decisions form a critical part of any corporate growth strategy. Aspire aimed to swiftly grow its team from zero to over 80. Considering time as a crucial factor, Aspire selected Multiplier to meet their needs.
What Worked with Multiplier?
- Agile team and solid support
- Quick turnaround times
- Prompt and responsive to customer needs
“I really like how well they can meet the client’s needs. The team was also able to help us source equipment, such as laptops, in a timely fashion. Somehow the team is able to pull resources to give solutions to our problems almost instantly.”
Melody Chen
Head of People, Aspire
The Significant Pay-off
Multiplier facilitated Aspire’s global expansion at a significantly reduced cost, ensuring a smooth process from onboarding to payroll. The advantages of partnering with Multiplier were numerous. With cost-effective talent in place, Aspire saved approximately $1 million annually. The platform enabled the seamless onboarding of 80 employees and provided excellent customer service. Whether it was an urgent information update or the addition of new employees, the Multiplier team was ready to assist Aspire. From local legal aid to compliance issues, Multiplier addressed Aspire’s needs quickly and effectively. Consequently, Aspire managed to handle payroll, benefits, taxes, social contributions, and local insurance policies for its global team without needing to establish a local business entity in India.
“Overall, there is a significant cost saving compared to setting up an entity. The process, the product, and the overall service have helped us achieve milestones at record speed.”
Melody Chen
Head of People, Aspire
Best Impressions:
- Competitive pricing enabled us to save significantly
- Wide coverage of product offerings
- Customer experience was top-notch and very responsive
- Saved man hours by outsourcing compliance to Multiplier
Discover how other companies use Multiplier to manage their global team.
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