Authorization

YouTrip, a challenger bank in Southeast Asia, raises $25M for expansion

Singapore-based startup YouTrip thinks consumers of Southeast Asia deserve a taste of the challenger bank revolution happening in the U.S. and Europe, and it has raised $25 million in new funding to bring its app-and-debit-card service to more parts in the region.
Challenger banks have sprung up in Europe in recent years. Unicorns Monzo, Revolut and N26 are among those that offer their customers a debit card linked to an app and various levels of banking services, including savings and overdrafts. Brex — another billion-dollar-valued startup — is bringing that approach across the pond to the U.S. market.
But what about Southeast Asia?
All the signs indicate this is a region where digital services can thrive. The number of internet users across its six main countries is larger the entire U.S. population, and online spending is tipped to triple to $240 billion by 2025. Already, the region has mega startups including Grab ($14 billion valuation), Tokopedia ($7 billion) and Go-Jek ($9.5 billion) whose investors are betting that these growth signals will translate into reality.
At the more modest end, YouTrip has pulled in this new money to take its model beyond Singapore and into larger countries in Southeast Asia.
YouTrip, a challenger bank in Southeast Asia, raises $25M for expansion
YouTrip CEO Caecilia Chu counts Citibank, McKinsey and Chinese fintech giant Lufax among her past employers
See also:
Leave a comment
News
  • Latest
  • Read
  • Commented
Calendar Content
«    Май 2019    »
ПнВтСрЧтПтСбВс
 12345
6789101112
13141516171819
20212223242526
2728293031