Indonesian fintech startup Finture, the company behind YUP, has raised $30 million in a Series B funding. This move is part of their plan to take YUP’s consumer finance services into new markets.
- What is YUP?: YUP is a consumer finance platform that combines credit card and e-wallet features. It connects users to pay-later services provided by licensed financial institutions, while offering exclusive promotional benefits.
- Funding Round: Led by MindWorks Capital, the Series B round saw participation from XVC, SWC Global, Richen Pioneer, and Antao Capital.
- Global Expansion Plans: With the new capital, Finture plans to bring YUP to Hong Kong, Vietnam, and the Philippines over the next few years, marking its first venture outside of Indonesia.
- Current Impact: YUP has gained popularity among younger users in Indonesia, with over 1 million users and a network of 40 million local merchants. This has contributed to Finture raising around $80 million in total equity investments since its launch in 2021.
This fresh funding and expanding partnerships signal Finture’s intent to reshape consumer finance across Southeast Asia.
