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Hi readers,
Travel has made a strong comeback since the pandemic restrictions eased, with people eager to explore new places more than ever. No wonder airports are bustling, flights are fully booked, and tourist hotspots are thriving with visitors from all around the world.
This is something I witnessed firsthand during my recent family trip to Phuket, a popular travel destination in Thailand. Every restaurant I visited was packed with people, and even 7-Eleven stores had long queues. Night markets were also a hit among tourists.
This resurgence of travel is beneficial not only to businesses within the hospitality industry but also to those in related sectors. Just take a look at YouTrip, a Singapore-based multicurrency digital payments platform.
In my recent article on the startup’s latest earnings, it is clear that the travel rebound has taken the company’s numbers to new heights.
Now here’s my next travel agenda: To try out a YouTrip-like service while exploring India. I am curious to experience the convenience and benefits of a multicurrency wallet.
— Samreen Ahmad, journalist at Tech in Asia
Top stories this week
Image credit: Timmy Loen
1️. YouTrip entity logs profit on travel rebound and B2B growth
The Singapore-based multicurrency card operator more than doubled revenue to US$30 million for FY 2024.
2. SG firm aspires to be Stripe of AI services
JigsawStack, which aims to streamline AI integration into websites via APIs, has raised US$500,000 in pre-seed funding.
3. Dekoruma’s sales double in 2023 amid industry decline
While the furniture marketplace grew its revenue, this was fueled by discounts to customers, which rose over 6x.
4. Cross-border SEA sellers battle rise of Chinese platforms
The entry of TikTok Shop, Shein, and Temu is driving Southeast Asia’s cross-border merchants to overhaul their strategies.
5. Secretlab back in the black after 2 ‘challenging’ years
The Singapore firm slightly grew its revenue in FY2024 and is now aiming to position itself as more than a gaming brand.
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