Yup, a digital bank in Southeast Asia, has recently raised USD 32 million through its C-1 funding round. This significant financial boost is expected to accelerate Yup’s growth and bring it closer to achieving profitability.

This investment was supported by multiple U.S.-based venture capital firms including Moore Strategic Ventures, Spice Expeditions, and Platanus. Other institutional investors and existing shareholders also contributed to this round.

Yup plans to use this funding to enhance financial inclusion in the region, making accessible and cost-effective digital banking services available to individuals who have been traditionally underbanked or underserved. By improving credit solutions for working- and middle-class consumers, Yup aims to create new economic opportunities while boosting overall financial stability in Southeast Asia.

With the growing interest of global investors in resilient tech-enabled developments within the payment sector in Southeast Asia, Yup’s recent funding round is seen as a positive sign. Investors have highlighted the market potential of Indonesia and Yup’s strong operational track record as key factors motivating their investment decision.

The company will continue to focus on providing secure and efficient financial tools for its customers across Southeast Asia. The new capital will enable Yup to increase its market reach, engage more deeply with users, and stay compliant with relevant regulations while continually improving the user experience of its services.

To date, Yup’s cumulative funding has surpassed USD 100 million, setting the stage for the expansion of its service offerings and overall customer satisfaction.