Travel payments specialist YouTrip has landed $30 million in a Series A round.
The Singapore-based company says its app has been downloaded more than 1.5 million times and that it has processed some 20 million transactions across Singapore and Thailand.
The investments comes from unnamed "Asia family offices" - bringing its total raised so far to $55.5 million over two rounds.
YouTrip, which started off as a mobile travel wallet, says the funding will “supercharge the company’s technological capabilities to bolster its suite of payment products.”
The startup, which was founded in 2018, adds that the B2B payments space is an area of particular focus as is expansion more widely in Southeast Asia.
Caecilia Chu, CEO and co-founder, says: “We have transformed tremendously as a company since our last round of funding. From a mobile travel wallet, we have grown to establish a strong foothold in new territories such as overseas online spending to meet the extraordinary shifts in consumer behaviors.”
“We believe there is untapped potential in cross-border payments, and our market-leading position in this space puts us in a good place to serve more of our users’ payment needs – from travelers to online shoppers and now businesses.”
YouTrip is planning to refresh the app as well as launch a virtual card in the coming weeks.
It will also unveil YouBiz, a multi-currency payment service for businesses.