YouTrip Secures $50M in Series B Led by Lightspeed for Southeast Asia Expansion

Singapore-based fintech YouTrip is set to accelerate its growth across Southeast Asia after securing a $50 million Series B funding round led by Lightspeed. Since its founding in 2018, YouTrip has raised a total of $100 million in investment.

The new capital will be used to enhance YouTrip's product technology and expand its team by over 100 members as it enters new Southeast Asian markets, including Indonesia, Malaysia, the Philippines, and Vietnam. YouTrip, a major payment institution licensed by the Monetary Authority of Singapore, offers a range of services, including payments, foreign exchange, remittances, and cards.

Since its inception, YouTrip has processed nearly $10 billion in annualized transaction volume, with a 238% growth in e-commerce payment volume since its Series A round in 2021. Its B2B product, YouBiz, has onboarded over 3,000 enterprises and plans to double that number by 2024.

YouTrip's plans include using AI and emerging technologies for personalized features and expanding YouBiz's services for SMEs' cross-border growth. The company is also excited about new regulations in Singapore that will raise e-wallet transaction caps, enabling it to offer more FX-related services.