Yup – which is a Southeast Asia-based digital bank, announced it has successfully concluded its C-1 equity funding round at $32 million. Prominent US investment firms, including Moore Strategic Ventures, Spice Expeditions, and Platanus, strongly supported this latest funding. The round also saw significant participation from various institutional investors and the company’s existing shareholders, signaling continued confidence in Yup’s strategic direction and growth trajectory.
This funding milestone is particularly significant for Yup as it plans to accelerate its initiatives aimed at broadening its customer base across the region. The company is also focused on its clear path toward achieving profitability, a key indicator of its operational efficiency and market responsiveness. With this new capital, Yup is well-positioned to enhance its service offerings and penetrate the dynamic Southeast Asian financial market more deeply.
Since its establishment in 2021, Yup has consistently demonstrated robust financial performance and sustained growth. This steady progress has solidified its standing as one of the most promising platforms within the burgeoning Fintech sector in Southeast Asia. Currently, Yup provides services to millions of credit card holders, a testament to its widespread adoption and the effectiveness of its digital banking solutions. The company projects that it will reach break-even by the close of 2025. This ambitious yet achievable goal underscores its disciplined operational strategies and the strong demand for its services.
Beyond its financial achievements, Yup is making substantial strides in advancing financial inclusion throughout Southeast Asia. The company is actively working to expand access to affordable, technology-driven financial services for populations that are often underbanked and underserved. By offering reliable credit and comprehensive digital banking solutions to working- and middle-class consumers, Yup is not only unlocking new economic opportunities for individuals but also strengthening the overall financial resilience of the region. This commitment to social impact, alongside its financial objectives, highlights Yup’s holistic approach to market development.
The completion of the C-1 round elevates Yup’s total equity funding to over $100 million. This funding strategically positions the company for further expansive growth and potential strategic maneuvers as it looks ahead to 2026. The continued accumulation of capital reflects the strong investor confidence in Yup’s long-term vision and its ability to execute strategic plans effectively.
KEY QUOTES:
“We have a very clear vision since our Day 1, which is to be the principal payment tool for the working-class / middle-class customers in Southeast Asia. We have seen our revenue approximately double each year for the past three years, and we expect that momentum to accelerate even further in 2026 and 2027. This round gives us the firepower to scale our reach and deepen engagement with our users. We’re thrilled to have Moore Strategic Ventures, Spice and Platanus onboard as strategic partners in our next phase.”
Donny Zhang, Co-Founder and CEO of Yup
“Over the past 4 years, we have successfully closed 6 rounds of equity fundraising, even during periods of capital market volatility. The continued support from global investors speaks volumes about their confidence in our long-term vision and execution. This funding will be used to take our customer base to the next level and further refine our product experience.”
Gavin Guo, CFO of Yup
