{"id":4393,"date":"2019-05-16T18:04:39","date_gmt":"2019-05-16T10:04:39","guid":{"rendered":"https:\/\/www.you.co\/en-SG\/?p=4393"},"modified":"2019-08-29T16:02:59","modified_gmt":"2019-08-29T08:02:59","slug":"youtrip-raises-us25-5-million-record-funding","status":"publish","type":"post","link":"https:\/\/www.you.co\/sg\/blog\/youtrip-raises-us25-5-million-record-funding\/","title":{"rendered":"YouTrip Raises US$25.5 Million in Record Funding"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"><strong>YouTrip secures record amount as the largest pre-Series A fintech funding round in Southeast Asia.<\/strong><\/h2>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>In addition, we&#8217;ll also be rolling out new product features periodically \u2013 so keep your eyes peeled!<\/p>\n\n\n\n<p>Since our launch in August 2018, YouTrip has also achieved: <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>200,000+ <\/strong>app downloads<\/li><li><strong>1,000,000+ <\/strong>processed transactions<\/li><li><strong>70+ <\/strong>YouTroopers in Singapore and Hong Kong offices<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img fetchpriority=\"high\" decoding=\"async\" width=\"900\" height=\"600\" src=\"https:\/\/www.you.co\/en-SG\/wp-content\/uploads\/sites\/2\/2019\/05\/HK-press-conf-photo-copy-1.png\" alt=\"\" class=\"wp-image-4441\" srcset=\"https:\/\/www.you.co\/sg\/wp-content\/uploads\/sites\/2\/2019\/05\/HK-press-conf-photo-copy-1.png 900w, https:\/\/www.you.co\/sg\/wp-content\/uploads\/sites\/2\/2019\/05\/HK-press-conf-photo-copy-1-300x200.png 300w, https:\/\/www.you.co\/sg\/wp-content\/uploads\/sites\/2\/2019\/05\/HK-press-conf-photo-copy-1-768x512.png 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>This accomplishment wouldn&#8217;t have been possible without our community of YouTrip users who have been supporting us since our launch, so here&#8217;s a big thank you from everyone at YouTrip! \ud83d\ude4f\ud83d\udc9c<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Fast Growing Travellers Market in Southeast Asia<\/strong><\/h3>\n\n\n\n<p>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\u2019s growing class of travellers.<\/p>\n\n\n\n<p>In fact, Southeast Asia&#8217;s population of over 650 million is <a href=\"https:\/\/www.wttc.org\/-\/media\/files\/reports\/2019\/mobile-payments-in-travel-tourism.pdf\"><span style=\"color:#702d82\" class=\"color\">one of the largest and fastest growing outbound travellers market globally<\/span><\/a>. 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.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"900\" height=\"601\" src=\"https:\/\/www.you.co\/en-SG\/wp-content\/uploads\/sites\/2\/2019\/05\/suhyeon-choi-184102-unsplash.jpg\" alt=\"travellers plane cabin\" class=\"wp-image-4408\" srcset=\"https:\/\/www.you.co\/sg\/wp-content\/uploads\/sites\/2\/2019\/05\/suhyeon-choi-184102-unsplash.jpg 900w, https:\/\/www.you.co\/sg\/wp-content\/uploads\/sites\/2\/2019\/05\/suhyeon-choi-184102-unsplash-300x200.jpg 300w, https:\/\/www.you.co\/sg\/wp-content\/uploads\/sites\/2\/2019\/05\/suhyeon-choi-184102-unsplash-768x513.jpg 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>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 \ud83c\udf0e.<\/p>\n\n\n\n<p>&#8220;As the regional travel industry continues to post robust growth, YouTrip recognises the pain points of travellers,&#8221; says Caecilia Chu, co-founder and CEO of YouTrip. <\/p>\n\n\n\n<p>&#8220;We are dedicated to creating the best mobile financial services for travellers by simplifying overseas spending and creating a fuss-free travel experience.&#8221;<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Fee-less Experience for Everyone<\/strong><\/h3>\n\n\n\n<p>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 <a rel=\"noreferrer noopener\" aria-label=\"Dynamic Currency Conversion markup (opens in a new tab)\" href=\"https:\/\/www.you.co\/en-SG\/blog\/how-to-avoid-dcc-sgd-vs-foreign-currency\/\" target=\"_blank\"><span style=\"color:#702d82\" class=\"color\">Dynamic Currency Conversion markup<\/span><\/a>, sometimes going as high as 5% or more. <\/p>\n\n\n\n<p>\u201cAs a frequent traveller, I was surprised with how much banks mark up on overseas transactions &#8211; this was among the many reasons why I started YouTrip with Arthur Mak, who is also Chairman of YouTrip,&#8221; says Caecilia.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"1000\" height=\"750\" src=\"https:\/\/www.you.co\/en-SG\/wp-content\/uploads\/sites\/2\/2019\/05\/2019-03-12-03.17.33-1.jpg\" alt=\"YouTrip Card\" class=\"wp-image-4410\" srcset=\"https:\/\/www.you.co\/sg\/wp-content\/uploads\/sites\/2\/2019\/05\/2019-03-12-03.17.33-1.jpg 1000w, https:\/\/www.you.co\/sg\/wp-content\/uploads\/sites\/2\/2019\/05\/2019-03-12-03.17.33-1-300x225.jpg 300w, https:\/\/www.you.co\/sg\/wp-content\/uploads\/sites\/2\/2019\/05\/2019-03-12-03.17.33-1-768x576.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Whether it&#8217;s <a rel=\"noreferrer noopener\" aria-label=\"transacting overseas (opens in a new tab)\" href=\"https:\/\/www.you.co\/en-SG\/blog\/wheres-korean-won-thai-baht\/\" target=\"_blank\"><span style=\"color:#702d82\" class=\"color\">transacting overseas<\/span><\/a> or <a rel=\"noreferrer noopener\" aria-label=\"shopping on foreign e-commerce sites (opens in a new tab)\" href=\"https:\/\/www.you.co\/en-SG\/blog\/overseas-shopping-sites-savings\/\" target=\"_blank\"><span style=\"color:#702d82\" class=\"color\">shopping online<\/span><\/a>, YouTrip users get to enjoy <a rel=\"noreferrer noopener\" aria-label=\"Wholesale Exchange Rates (opens in a new tab)\" href=\"https:\/\/www.you.co\/en-SG\/blog\/what-are-wholesale-exchange-rates-how-to-use\/\" target=\"_blank\"><span style=\"color:#702d82\" class=\"color\">Wholesale Exchange Rates<\/span><\/a> with no markup on foreign currency conversion, and zero transaction fees.<\/p>\n\n\n\n<p>If you&#8217;re still not a YouTrip user yet, sign up with the promo code <strong><a rel=\"noreferrer noopener\" aria-label=\"YOUTRIPIT (opens in a new tab)\" href=\"https:\/\/youtrip.onelink.me\/HnkC\/49ead0da\" target=\"_blank\"><span style=\"color:#702d82\" class=\"color\">YOUTRIPIT<\/span><\/a><\/strong> for a bonus SGD $5. Plus, <a rel=\"noreferrer noopener\" aria-label=\"stand a chance to win SGD $1,500 (opens in a new tab)\" href=\"https:\/\/www.you.co\/en-sg\/youtrip-it-instead\/\" target=\"_blank\"><span style=\"color:#702d82\" class=\"color\">stand a chance to win SGD $1,500<\/span><\/a>. <\/p>\n\n\n\n<p>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 \u2013 we promise! \ud83d\udcaa<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><strong>Read:&nbsp;<a rel=\"noreferrer noopener\" aria-label=\"Leading Gender Equality in Fintech Space (opens in a new tab)\" href=\"https:\/\/www.you.co\/en-SG\/blog\/gender-equality-fintech\/\" target=\"_blank\"><span style=\"color:#702d82\" class=\"color\">YouTrip Leads Gender Equality in Fintech Space<\/span><\/a><\/strong><\/p>\n\n\n\n<p><strong>Read:&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/www.you.co\/en-SG\/blog\/not-a-money-changer-takes-over-the-arcade\/\" target=\"_blank\"><span style=\"color:#702d82\" class=\"color\">\u201cNot A Money Changer\u201d Takes Over The Arcade<\/span><\/a><\/strong><\/p>\n\n\n\n<p><strong>Read:&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/www.you.co\/en-SG\/blog\/youtrip-natas-travel-fair\/\" target=\"_blank\"><span style=\"color:#702d82\" class=\"color\">YouTrip Lands in NATAS Travel Fair<\/span><\/a><\/strong><\/p>\n\n\n\n<p><strong>Read: <a rel=\"noreferrer noopener\" href=\"https:\/\/www.you.co\/en-SG\/blog\/uncovering-credit-card-fraud-with-data-analytics\/\" target=\"_blank\"><span style=\"color:#702d82\" class=\"color\">Uncovering Credit Card Fraud with Data Analytics<\/span><\/a><\/strong><\/p>\n\n\n\n<p><strong>Read:&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/www.you.co\/en-SG\/blog\/everything-you-need-to-know-about-youtrip\/\" target=\"_blank\"><span style=\"color:#702d82\" class=\"color\">Here\u2019s Everything You Need to Know About YouTrip<\/span><\/a><\/strong><\/p>\n\n\n\n<p><em>Enjoy a worldwide fees-less travel experience!<\/em><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><a href=\"https:\/\/youtrip.onelink.me\/HnkC\/49ead0da\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"728\" height=\"90\" src=\"https:\/\/www.you.co\/en-SG\/wp-content\/uploads\/sites\/2\/2018\/12\/1_728-x-90-1.jpg\" alt=\"YouTrip Banner 1\" class=\"wp-image-1181\" srcset=\"https:\/\/www.you.co\/sg\/wp-content\/uploads\/sites\/2\/2018\/12\/1_728-x-90-1.jpg 728w, https:\/\/www.you.co\/sg\/wp-content\/uploads\/sites\/2\/2018\/12\/1_728-x-90-1-300x37.jpg 300w\" sizes=\"(max-width: 728px) 100vw, 728px\" \/><\/a><\/figure><\/div>\n\n\n\n<p><br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>YouTrip secures record amount as the largest pre-Series A fintech funding round in Southeast Asia!<\/p>\n","protected":false},"author":8,"featured_media":8252,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[622],"tags":[],"class_list":["post-4393","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-product-community"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.you.co\/sg\/wp-json\/wp\/v2\/posts\/4393","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.you.co\/sg\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.you.co\/sg\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.you.co\/sg\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.you.co\/sg\/wp-json\/wp\/v2\/comments?post=4393"}],"version-history":[{"count":0,"href":"https:\/\/www.you.co\/sg\/wp-json\/wp\/v2\/posts\/4393\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.you.co\/sg\/wp-json\/wp\/v2\/media\/8252"}],"wp:attachment":[{"href":"https:\/\/www.you.co\/sg\/wp-json\/wp\/v2\/media?parent=4393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.you.co\/sg\/wp-json\/wp\/v2\/categories?post=4393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.you.co\/sg\/wp-json\/wp\/v2\/tags?post=4393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}