YouTrip Raises US$25.5 Million in Record Funding

YouTrip Raises US$25.5 Million in Record Funding
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YouTrip secures record amount as the largest pre-Series A fintech funding round in Southeast Asia.

With the recent successful fundraise of USD $25.5 million, YouTrip users can expect an even better user experience as we further our development in technology innovation and technical payment infrastructure.

In addition, we’ll also be rolling out new product features periodically – so keep your eyes peeled!

Since our launch in August 2018, YouTrip has also achieved:

  • 200,000+ app downloads
  • 1,000,000+ processed transactions
  • 70+ YouTroopers in Singapore and Hong Kong offices

This accomplishment wouldn’t have been possible without our community of YouTrip users who have been supporting us since our launch, so here’s a big thank you from everyone at YouTrip! 🙏💜

Fast Growing Travellers Market in Southeast Asia

Thanks to our strong foothold in Singapore, travellers from other Southeast Asian countries will soon be able to enjoy YouTrip, as we set our sights to expand in the region and develop localised solutions for the region’s growing class of travellers.

In fact, Southeast Asia’s population of over 650 million is one of the largest and fastest growing outbound travellers market globally. The whole Southeast Asia outbound travellers market is expected to total USD $80 billion in outbound travel expenditure by 2020, up from USD $67 billion in 2018.

travellers plane cabin

Surprise surprise (or not), Singapore is actually the biggest contributor to this region, with Singaporeans being one of the most frequent travellers and biggest travel spenders in the world 🌎.

“As the regional travel industry continues to post robust growth, YouTrip recognises the pain points of travellers,” says Caecilia Chu, co-founder and CEO of YouTrip.

“We are dedicated to creating the best mobile financial services for travellers by simplifying overseas spending and creating a fuss-free travel experience.”

Fee-less Experience for Everyone

Bank-issued credit and debit cards typically carry an overseas transaction fee that can be as high as 3.5%. Overseas purchases made with credit cards also usually entail a Dynamic Currency Conversion markup, sometimes going as high as 5% or more.

“As a frequent traveller, I was surprised with how much banks mark up on overseas transactions – this was among the many reasons why I started YouTrip with Arthur Mak, who is also Chairman of YouTrip,” says Caecilia.

YouTrip Card

Whether it’s transacting overseas or shopping online, YouTrip users get to enjoy Wholesale Exchange Rates with no markup on foreign currency conversion, and zero transaction fees.

If you’re still not a YouTrip user yet, sign up with the promo code YOUTRIPIT for a bonus SGD $5. Plus, stand a chance to win SGD $1,500.

As YouTrip aims to go live in a few more Southeast Asian countries within the next six to 12 months, expect bigger and better improvements – we promise! 💪

Read: YouTrip Leads Gender Equality in Fintech Space

Read: “Not A Money Changer” Takes Over The Arcade

Read: YouTrip Lands in NATAS Travel Fair

Read: Uncovering Credit Card Fraud with Data Analytics

Read: Here’s Everything You Need to Know About YouTrip

Enjoy a worldwide fees-less travel experience!

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