- YUP raises $30M
- Targets underserved credit market in Southeast Asia
- Aims for US IPO in 3-5 years
Big Bucks for Big Dreams
Singapore-based fintech startup Finture has raised $30 million in Series B funding for its credit payment platform YUP.
Led by MindWorks Capital, the round will fuel YUP’s expansion across Southeast Asia and support its bid for an Indonesian banking license.
Cracking the Credit Code
YUP targets Indonesia’s 80 million working-class individuals with stable incomes, aiming to boost the country’s 2% credit card penetration rate.
The platform boasts partnerships with over 40 million merchants and processes millions of transactions, projecting a $1 billion transaction volume by 2024.
Eyes on the Prize
Despite a slowdown in Asian venture capital, YUP has doubled its valuation. The company plans to extend its services to Hong Kong, Vietnam, and the Philippines.
With ambitious goals to serve 50 million users in the next decade, YUP is setting its sights on a US IPO within 3-5 years.
