Yup raises $32m for Southeast Asian digital bank

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The C-1 round – which brings Yup’s total funding to over $100 million – was joined by Moore Strategic Ventures, Spice Expeditions and Platanus.

Founded in 2021, Yup has set its sights on underserved working class populations in Southeast Asia, signing up millions of credit card holders and expects to reach break-even by the end of 2025—an achievement that reflects both operational discipline and strong market demand.

The platform was created by Singaporean startup Finture, which plans to use the new funding to expand into new markets, including Hong Kong, Vietnam and the Philippines, according to local press reports.

Donny Zhang, CEO, Yup, says: “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. This round gives us the firepower to scale our reach and deepen engagement with our users.”