Indonesia’s digital bank Yup has recently secured $32 million in their latest equity funding through its C-1 round, backed by US investment firms including Moore Strategic Ventures, Spice Expeditions and Platanus.

The raise marks a pivotal moment for the company as it accelerates efforts to expand its customer base and edge closer to profitability, the firm said in a statement on Tuesday.

The round also saw participation from other institutional investors and existing shareholders.

The C-1 round brings Yup’s total equity funding to over $100 million, positioning the company for further expansion and potential strategic moves in 2026.

Since founded in 2021, Yup has demonstrated robust financial performance and consistent growth, cementing its position as one of Southeast Asia’s most promising platforms in Fintech space.

The company now serves 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.

Beyond financial performance, Yup is advancing financial inclusion by expanding access to affordable, technology-driven financial services for underbanked and underserved populations in Southeast Asia.

By providing working- and middle-class consumers with reliable credit and digital banking solutions, the company is unlocking new economic opportunities while reinforcing the region’s financial resilience.

“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 Chief Executive Officer of Yup.

“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.

Yup’s fundraising comes as global investors increasingly look to Southeast Asia for resilient, tech-enabled growth stories in the payment industry, said the statement.

Investors cited that the great market potential from Indonesia, which is one of the most promising emerging markets, and the company’s disciplined execution are the key reasons for them to bet on Yup.

With macroeconomic tailwinds continuing and digital adoption surging, it noted companies like Yup are drawing renewed attention from capital markets.

“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,” added by Gavin Guo, Chief Financial Officer of Yup.

“This funding will be used to take our customer base to the next level and further refine our product experience,” he added.

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