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YouTrip raised $30M in a Series A funding round led by major Asian family offices to enhance its technological capabilities and expand in Southeast Asia.

Aug 15, 2024•over 1 year ago

Amount Raised

$30 Million

Round Type

series a

SingaporeFinancial Services

Investors

Prominent Financial Technology InvestorsMajor Asian Family Offices

Description

YouTrip, Singapore’s first multi-currency mobile wallet linked with Mastercard, has secured $30 million in Series A funding. The company aims to boost its technological offerings and grow its presence in the region, benefiting from a strong user base and increased transaction volume.

Company Information

Company

YouTrip

Location

Singapore

About

But come the first quarter of 2022, the startup will roll out YouBiz, a multicurrency credit card targeting small and medium-sized businesses. The company also intends to introduce a virtual card and increase the number of currencies on offer in its consumer card by early next year. In September, the firm said it would double its workforce in Singapore with over 50 new engineering and product hires by 2022. Since then, the company revealed that it has made close to 30 new hires in the country. This was buoyed by an increase in ecommerce activity, a gradual return of travel, and the rollout of its rewards platform YouTrip Perks, the company said.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech