YouTrip, a Singapore based fintech startup focused on solutions for travellers, raised $25.5M in Pre-Series A funding.
Backers included Insignia Ventures Partners and other Asian family offices.
The company intends to use the funds to expand in Southeast Asia, further develop its technical payment infrastructure and roll out new product features.
Led by Caecilia Chu, co-founder and CEO, and Arthur Mak, Chairman, YouTrip operates a multicurrency mobile wallet that enables people to make overseas payments without transaction or currency exchange fees via an app.
The solution includes an app and a contactless prepaid card issued by EZ-Link that can be used in a global network of merchants.
Users can pay in over 150 currencies and store money in 10 currencies.
Launched in August 2018, YouTrip achieved 200,000+ app downloads, 1,000,000+ processed transactions, and has 70+ in Singapore and Hong Kong offices.