Multi-Currency Digital Wallet App YouTrip Earns Record-Breaking Funding
Frequent travellers may know the hassle of exchanging currencies all too well, so when the multi-currency digital wallet app YouTrip came along, it became a huge saviour.
Allowing users to exchange money virtually, the app eased foreign payment greatly.
Its usefulness isn’t lost on investors as YouTrip recently raised a record US$50 million (S$68.4 million) in funding from Lightspeed.
To thank customers for their support, the platform announced a S$1 flight giveaway to six potential winners.
YouTrip raises S$68 million in funding
YouTrip launched in 2018 with its multi-currency e-wallet, designed for ease of foreign currency payments.
According to KrASIA, the company subsequently raised US$25.5 million (S$34.9 million) and US$30 million (S$41 million) in funding in 2019 and 2021 respectively.
The Covid-19 pandemic proved a hurdle for the growing company, given the global lockdowns. Therefore, they expanded their e-commerce functions and thanked their customers for supporting them throughout.
In their latest Series B fundraising, capital firm Lightspeed invested S$68.4 million into the company, a clear sign of growing investor confidence.
Source: @youtripsg on Instagram
“The latest funding round is a testament to our strong potential in the B2C and B2B payment spaces,” said YouTrip CEO Caecilia Chu.
The digital wallet app now processes US$10 billion (S$13.7 billion) annually, noted Channel NewsAsia (CNA).
Giving away six S$1 flights to lucky customers
In an interview with CNA, Ms Chu stated that YouTrip finally became operationally profitable in April 2023.
As such, they promised new wallet currencies and features, and to work towards more intuitive products. The company also further teased the future incorporation of Google Pay.
To commemorate their latest milestone, YouTrip announced the doubling of winners for their ‘Destinations: Anywhere With S$1’ giveaway.
Source: YouTrip
From now till 31 Oct, anyone can participate in the contest and stand a chance to win a flight to the dream destination of their choice for just S$1.
Instead of the initial three winners, six lucky individuals will now get the golden opportunity.
To participate, simply follow YouTrip on Instagram and take the following steps:
In addition to this giveaway, new users who sign up with the promo code ‘YTSB10‘ until 31 Oct will get S$10 credited to their account.
Also read: S’pore Airlines & Scoot To Offer 370,000 Discounted Plane Tickets At Suntec Travel Fair From 3 Nov
S’pore Airlines & Scoot To Offer 370,000 Discounted Plane Tickets At Suntec Travel Fair From 3 Nov
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Featured image adapted from TheSmartLocal and YouTrip on Facebook.
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