Yup, a Southeast Asia-based digital bank, has raised US$32 million in its C-1 equity round led by US investment firms Moore Strategic Ventures and Spice Expeditions, with support from other institutional and existing investors.

The new funding brings Yup’s total equity raised to over US$100 million since its founding in 2021.

The company will use the funds to expand its customer base and enhance its digital banking offerings for underbanked and underserved segments in the region.

Yup currently serves millions of credit card holders and aims to reach break-even by the end of 2025.

Yup’s latest fundraising comes as global investors show increased interest in Southeast Asia’s payment and fintech sector, citing growth potential in markets like Indonesia.

🔗 Source: Yup