FTV Capital has committed $25 million to ASPire Financial Services, a company that provides retirement plan solutions to small and medium-sized businesses, organizations and government entities. FTV Capital is a growth equity firm focused on innovative, high-growth businesses and has a strong track record in asset management related businesses.

ASPire has served the retirement industry since 2002 with its cost effective platform, offering a distinct alternative to the traditional bundled service providers and filling a void in the underserved 403(b) and IRA market segments, according to the company. ASPire helps advisors and third party administrators navigate the significant changes currently underway in the retirement industry, including the challenges associated with transparency through fee disclosure reforms within ERISA-based plans, the need to provide highly customized program features with flexible investment choices, and the need for efficient interoperability access with multiple service providers.

Proceeds from the growth equity investment will be used to drive continued rapid organic growth through expanded sales and client service teams as well as further development and deployment of key functionality enhancements to ASPire's operating platform to meet strong customer demand.