Spenmo Closes $85.35M Series B: The Fintech Reshaping Southeast Asia's Payment Infrastructure

Singapore’s Spenmo just secured $85.35 million in Series B funding led by Tiger Global Management, marking a pivotal moment for the region’s corporate finance ecosystem. This isn’t just another fintech funding story—it’s a signal that the market is ready for a fundamental shift in how companies manage money across borders.

More Than Just a Payment App

While Americans have Venmo for peer-to-peer transfers, Southeast Asia now has Spenmo—except it does way more. The platform combines digital e-wallets, bank accounts, and payment management into a single dashboard. Instead of finance teams manually hunting for the best exchange rates across multiple platforms, Spenmo’s algorithm does it automatically, pulling real-time data to ensure users get optimal rates every time.

The numbers speak for themselves: corporate clients save over 50 hours and $10,000 monthly through the platform. That’s not just efficiency—it’s real money returning to the bottom line.

From Vendor Payments to Payroll

What separates Spenmo from generic payment apps is scope. The platform handles everything: daily expense management, vendor payments, employee payrolls, and cross-border transactions. For over 80% of Spenmo’s client base, international payments are critical, which is why the company built its entire infrastructure around borderless transactions from day one.

Rather than reinventing accounting software or creating a neo-bank (which would fragment the ecosystem), Spenmo chose integration. They work alongside existing accounting tools, positioning themselves as the operating system for corporate spend management.

The Unicorn-Track Narrative

With $500 million valuation post-Series B, Spenmo sits halfway to unicorn status. This funding round included backing from Insight Partners, Rocket Internet, Global Founders Capital, and Alpha JWC Ventures—a who’s who of venture firms betting on payment infrastructure.

Tiger Global now controls approximately 11% of the company, a significant stake that reflects their conviction in the market opportunity. For context, this follows a record-breaking $34 million Series A, signaling accelerating investor confidence.

Southeast Asia: The Next Payment Frontier

The expansion play is unmistakable. Spenmo is currently building payment rails in Vietnam and Indonesia, markets where digital wallets proliferated rapidly but corporate payment solutions remain fragmented. This is where the real opportunity lies—not in consumer payments (that’s crowded), but in B2B financial workflows that remain antiquated across much of the region.

CEO Mohandass Kalaichelvan summed up the vision: finance teams currently spend billions of hours annually on payment administration. By automating these workflows, Spenmo targets returning 10 billion man-hours to the region’s corporate sector. That’s not a product pitch—that’s a macro shift in how businesses operate.

The Series B validates what markets are increasingly recognizing: Spenmo is building category-defining software in a space ripe for disruption.