Singapore-based fintech YouTrip picks up $50M led by Lightspeed

YouTrip, a Singapore-based fintech that offers a multicurrency wallet for consumers and business accounts with corporate cards for SMEs, has its eyes on growth throughout Southeast Asia after landing a Series B led by Lightspeed.

The round was $50 million and brings YouTrip’s total raised to $100 million since it launched in 2018.

The new funding will be used to develop YouTrip’s product technology and hire more than 100 new positions for its regional team as it launches in new Southeast Asian markets, including Indonesia, Malaysia, the Philippines, and Vietnam.

The company is a major payment institution licensed by the Monetary Authority of Singapore, and its services include payments, foreign exchange, remittances, and cards.

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Since its inception five years ago, YouTrip has processed close to $10 billion in annualized transaction volume and its e-commerce payment volume has grown 238% in annualized transaction volume since its Series A in 2021.

TechCrunch last covered YouTrip in November 2021, when it raised a $30 million Series A led by prominent family offices in Asia who wanted to be unnamed but were returning investors.

nder and CEO Caecilia Chu tells TechCrunch that YouTrip’s backing by family offices gave it an advantage because those relationships tend to be very long-term.