Eileen Yu
for By The Way
| November 30, 2021
| Topic: Banking
YouTrip has snagged $30 million in its Series A funding round, which it says will be used to beef up its payment products and grow its footprint in Southeast Asia. In particular, the Singapore-based fintech startup is eyeing the business-to-business (B2B) payments market, where small and midsize businesses (SMBs) are keen to adopt digital banking services.
YouTrip said in a statement Tuesday the latest round pushed its total funds raised to $60 million since its launch in 2018. It added that previous investors returned to participate in the funding exercise, including major Asian family offices and fintech investors. The digital bank secured $25.5 million from its Pre Series A in 2019.
YouTrip, which provides multi-currency wallet, said the new funds would be tapped to boost its products for both consumers and enterprises, as it looked to enter the lucrative B2B payments market.
E-Commerce