Here’s Yup! They’re an Indonesian digital bank that is advancing financial inclusion for underbanked and underserved populations across SEA. 

• Now, they just raised a $32M in a C-1 equity round!

Investor check. US investment firms Moore Strategic Ventures, Spice Expeditions, Platanus, and other institutional investors and existing shareholders joined in. 

• This brings Yup’s total equity raised to more than $100M.

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👍🏼 The ABCs of Yup

Founded in 2021, Yup targets working and middle-class consumers, providing reliable credit options and digital banking services. 

• Yup offers a Visa card where cardholders can get exclusive perks and rewards (like cashbacks and discounts). 

How it works. Yup connects customers to get access to credit payment provided by financial services institutions licensed by Indonesia’s Financial Services Authority, OJK.

• Their credit card has a max limit of around $9K (150M IDR).

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🥳 What the future holds? 

They’ll use the new capital to grow their customer base, deepen user engagement, and enhance their product experience. 

• They also plan to focus on their profitability. 

Zoom out. The deal comes as global investors are increasingly looking to SEA for resilient, tech-enabled growth stories in the payment industry.