Lightspeed leads YouTrip's $50M Series B

Get ready to experience financial management at its best with YouTrip, a startup from Singapore, that simplifies our lives with a multi-currency wallet. Recently, they've received impressive capital of $50M from a Series B round led by Lightspeed, pushing its total funding to $100M since its launch in 2018.

• Expansion Goals: YouTrip plans to extend its unique fintech solutions across Southeast Asia, with countries like Indonesia, Malaysia, the Philippines, and Vietnam. The company also plans to ramp up hiring to strengthen its regional team.

• Regulatory Approval: YouTrip operates with a license from the Monetary Authority of Singapore, providing a diverse range of services including payments, foreign exchange, remittances, and card facilities.

• Impressive Growth: Since its inception, YouTrip has handled nearly $10B USD in annualized transaction volume. Its e-commerce payment volume has seen an impressive growth of 238% annually since Series A in 2021.

• YouBiz Triumphs: YouBiz, their corporate card targeted at SMBs, allows global payments, receipts, and invoicing in multiple currencies. SMEs have warmly embraced it, with multi-currency spending through YouTrip seeing consistent growth in Singapore and Thailand.

• YouTrip's Unique Strategy: YouTrip sets itself apart with a focus on localization. Their mobile apps, card designs, and partnerships are all customized to meet the needs of their local markets.

YouTrip plans to utilize AI and advanced tech to offer smart budgeting options and personalized financial insights. They also plan to roll out new features like expense management tools and credit lines to support SMEs' cross-border expansion plans.