Singapore’s YouTrip eyes international expansion following $50m Series B raise
Singapore-based fintech YouTrip, which offers a multi-currency mobile wallet, has secured $50 million in a Series B funding round led by Lightspeed.
YouTrip raises $50m in Series B funding round
The latest funding round follows YouTrip’s $30 million Series A in December 2021 and brings its total funding to date to over $100 million.
Launched in 2018, YouTrip holds a remittance licence issued by the Monetary Authority of Singapore (MAS) and teamed up with Kasikorn Bank to launch its services in Thailand in 2019. It offers foreign currency digital payment solutions for both consumers and businesses and also provides corporate cards for SMEs through its spend management platform YouBiz, launched over a year ago.
With the latest investment, YouTrip says it is “well-positioned” to accelerate its expansion plans across Southeast Asia, including countries such as Indonesia, Vietnam, the Philippines and Malaysia. Additionally, in the coming months, the fintech also aims to add new features and products to its wallet and invest further in its technology.
Caecilia Chu, CEO and co-founder of YouTrip, says the company has “achieved tremendous growth despite the pandemic” and claims the latest cash injection “is a testament to our strong potential in the B2C and B2B payment spaces”.
