Following this announcement, the company will use the new capital in order to further accelerate its development process by investing in more services and technologies. This is set to optimise its overall offerings and capabilities, as well as expand its regional team by hiring multiple employees in the new markets across Southeast Asia.
According to the press release, YouTrip aims to expand its presence across Indonesia, Malaysia, the Philippines, as well as Vietnam, with a focus on providing customers with accessible, convenient, and secure digital payment solutions. Furthermore, the company will prioritise the B2B and B2C payment spaces, bringing efficient payment services in order to optimise the process of cross-border commerce development.
The funding round was led by the global venture capital firm Lightspeed, and it raised YouTrip’s total funds raised to over USD 100 million.
The company will continue to provide its multi-currency digital payment platform in order to enable customers to have a safer and faster experience with foreign currencies and digital payments. YouTrip will deepen its investment in order to bolster its capabilities in artificial intelligence (AI), as well as other emerging technologies. This is set to widen its offerings and suite of services, such as smart budgeting, customised financial insights, and other travel-related products.
Moreover, the company will focus on expanding its portfolio of tools in order to improve the manner in which small and medium-sized businesses and enterprises (SMBs and SMEs) accelerate their cross-border growth plans in the digital economy. This will include the improvement of its current expense management offerings, as well as the introduction of new features that will meet the needs, demands, and expectations and customers and partners. YouTrip’s recent partnerships and launches
Multi-currency digital wallet YouTrip announced several partnerships and product launches in the last couple of months, covering different geographic areas around the world.
In August 2023, YouTrip integrated with Apple Pay in order to provide customers and clients with a smooth user experience and optimised financial benefits. Following this announcement, users were enabled to leverage multi-currency payments and savings in various areas of life. Whether using the tap-in feature for public transportation, online shopping, offline shopping, or dining out, the integration was aimed at improving customers’ overall payment experience.
Earlier in July 2023, the company partnered with Kasikornbank in order to introduce the 3DS 2.0. authentication features, which provided users with a secure and efficient digital payment experience. This represented an important step into YouTrip’s commitment to making digital payments safer for customers.
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