The AIM quoted investment company said the launch represents a commercial milestone for the company following its £612,000 August fundraising, which was undertaken in part to accelerate Aspire’s business account and debit card rollout and progress its trade finance pipeline.

Caledonian acquired Aspire on 1 June 2026 as the cornerstone operating business within its strategy to build an integrated financial services group.

It is hoping the move will allow Aspire to grow its customer base through direct and partnership-led distribution, increasing transaction volumes and converting its existing trade finance opportunities into recurring revenues.

The current accounts support business payments including faster payments, direct debits, standing orders, payroll and international supplier payments. Eligible business customers can apply for trade finance directly alongside their day-to-day account activity, with facilities of up to £5m for periods of up to 120 days.

The firm said in a statement: “Muloot Money is the trading name of Aspire’s international multi-currency financial services platform for business customers. The enhanced proposition is designed to reduce the need for internationally trading businesses to use multiple providers for their everyday account, payments, foreign exchange, card and working-capital requirements, by bringing these services together through an integrated platform.”

Jim McColl, executive director of Caledonian Holdings, said: “This is exactly the type of commercial milestone we said the August 2026 fundraising would unlock. Aspire now has a commercially available proposition bringing together a multi-currency business account, international payments, foreign exchange, a Mastercard debit card and access to trade finance through one wholly owned platform.

Importantly, this is not a platform development announcement; the infrastructure is built, the debit card is live and the focus now moves to growing the customer base, increasing transaction volumes and accelerating the trade finance pipeline into revenue.

We believe the combination of day-to-day business financial services with integrated access to trade finance is a genuine differentiator for Aspire and an important step in building a revenue-generating operating business within Caledonian that has the ability to scale via organic customer acquisition and a partnership program that is driven by superior infrastructure.”

Adam Rigler, chief executive of Aspire, said: “Internationally trading businesses are often forced to use separate providers for accounts, payments, foreign exchange, cards and working capital. Muloot Money has been designed to bring those services together in one environment, supported by a UK-based team that understands the needs of growing businesses.

“The launch of the Mastercard debit card completes an important part of that proposition. Our attention now is on commercial rollout, customer acquisition and helping more businesses use the platform to manage and finance their trade.”

It comes a year after Caledonian Holdings conditionally agreed to invest in AlbaCo, providing £750,000 in cash for 750,000 new shares, equating to a 2.73% stake, according to Daily Business.

A further £250,000 of existing AlbaCo shares, currently held by Mr McColl, was acquired via a proposed share swap involving the issue of nearly 5.8 billion new Caledonian shares.

AlbaCo, based at Mr McColl’s HQ in East Kilbride, is currently pre-revenue and reported a £8.96m loss after tax and net assets of £6.31m as of February 2024.