Southeast Asian digital bank Yup has closed a $32 million C-1 equity round led by US investment firms Moore Strategic Ventures, Spice Expeditions, and Platanus. Other institutional investors and existing shareholders also participated in the raise.
The funding brings Yup's total equity raised to over $100 million since its launch in 2021. The company plans to use the capital to grow its customer base and refine its product offering as it pushes toward profitability.
Yup now serves millions of credit card holders across Southeast Asia and expects to reach break-even by the end of 2025. The timeline reflects both strong market demand and disciplined operations.
The company has seen its revenue roughly double each year for the past three years. That pace is expected to accelerate further in 2026 and 2027 as digital adoption continues to rise across the region.
Yup focuses on providing affordable, tech-driven financial services to working- and middle-class consumers. Many of these customers have historically been underserved by traditional banking infrastructure.
"We have a very clear vision since our Day 1, which is to be the principal payment tool for the working-class / middle-class customers in Southeast Asia. We have seen our revenue approximately double each year for the past three years, and we expect that momentum to accelerate even further in 2026 and 2027," said Donny Zhang, Co-Founder and CEO of Yup.
By offering accessible credit and digital banking solutions, the company aims to unlock new economic opportunities while strengthening financial resilience in the region.
The C-1 round positions Yup for further expansion and potential strategic moves in 2026. Zhang expressed confidence in the company's ability to scale with its new backers on board.
"This round gives us the firepower to scale our reach and deepen engagement with our users. We're thrilled to have Moore Strategic Ventures, Spice and Platanus onboard as strategic partners in our next phase," he added.
Gavin Guo, CFO of Yup, highlighted the company's track record in securing capital even during volatile market conditions.
"Over the past 4 years, we have successfully closed 6 rounds of equity fundraising, even during periods of capital market volatility. The continued support from global investors speaks volumes about their confidence in our long-term vision and execution," said Guo. "This funding will be used to take our customer base to the next level and further refine our product experience."
The company's ability to attract repeat and new investors reflects confidence in its business model and execution strategy.
Yup's fundraise comes as global investors increasingly look to Southeast Asia for resilient, tech-enabled growth opportunities in the payments industry. Indonesia, in particular, has emerged as one of the most promising markets in the region.
Investors cited Indonesia's market potential and Yup's disciplined execution as key reasons for backing the company. With macroeconomic trends favoring digital adoption, fintech companies like Yup are drawing renewed attention from capital markets.
