Singapore-based fintech Finture’s digital credit payment platform, Yup, has raised $32 million in a C-1 funding round, bringing its total equity funding to over $100 million since its launch in 2021, with plans to expand its customer base across Southeast Asia and target profitability.
The latest C-1 round was supported by US investment firms Moore Strategic Ventures, Spice Expeditions, and Platanus, among others. This capital injection follows previous funding efforts, including a $30 million Series B round in September 2024 led by MindWorks Capital, and a $20 million pre-Series B round in July 2023 led by Chinese investor XVC. Other existing investors include SWC Global, Richen Pioneer, and Antao Capital.
Founded by Donny Zhang, CEO, and Matt Zou, COO of Finture, Yup provides physical and virtual credit cards, alongside pay-later services. The platform primarily targets working and middle-class consumers across Southeast Asia.
According to a company statement, Yup is projected to achieve break-even by the end of 2025. Donny Zhang indicated that revenues have approximately doubled annually over the past three years, though current revenue figures have not been publicly disclosed.
Yup is actively working to extend its services beyond Indonesia, with plans for expansion into Hong Kong, Vietnam, and the Philippines. The company is also reportedly considering a stock market debut in the United States before 2029.
