Singapore-based fintech YouTrip picks up $50M led by Lightspeed
YouTrip has its eyes on growth throughout Southeast Asia after landing a $50 million Series B led by Lightspeed.
[ sourced from TechCrunch
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YouTrip, a Singapore-based fintech that offers multi-currency wallet for consumers and business accounts with corporate cards for SMEs, has its eyes on growth throughout Southeast Asia after landing a Series B led by Lightspeed.
The new funding will be used to develop YouTrip’s product technology and hire more than 100 new positions for its regional team as it launches in new Southeast Asian markets, including Indonesia, Malaysia, the Philippines and Vietnam.
TechCrunch last covered YouTrip in November 2021, when it raised a $30 million Series A led by prominent family offices in Asia who wanted to be unnamed, but were returning investors.
Many are in the tech industry, including IT providers and startups who tend to be early adopters of new digital products, but Chu says YouTrip has also seen traction from more traditional sectors like travel agencies and healthcare.
The most common use cases for YouBiz include business travel, and digital marketing spend, because Google, Facebook and subscription tools are generally billed in USD, and the card gives SMEs FX savings.
For YouBiz, the company will grow its portfolio of services for SMEs’ cross border growth plans, including new features for its expense management capabilities and adding credit lines.
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