Fintech

S'pore Fintech Firm YouTrip Expands To Thailand Following US$25.5M Funding

Singapore’s multi-currency travel wallet YouTrip announced today (November 5) that it has partnered Thai bank Kasikornbank (KBank) to launch in Thailand, marking its first foray overseas.

This announcement came after YouTrip’s US$25.5 million record funding in May this year, which is the largest pre-series A raise for a Southeast Asia-based fintech startup.

Under this new partnership, KBank users can now register for YouTrip in less than 3 minutes via their K PLUS app, without the need to visit bank branches for document submission.

With YouTrip, they can enjoy zero transaction fees across over 150 currencies as they travel globally.

In addition, Thai travelers can also “lock-down and secure their preferred rate” via the in-app exchange rate feature for 10 popular currencies, with no daily limit on how much money can be exchanged.

The first 50,000 users will be awarded a 200 THB bonus after their first successful transaction with YouTrip in December 2019.

Users can also enjoy free overseas ATM withdrawal from launch until 31 January 2020.

Replicating S’pore’s Success In Thailand

According to YouTrip, it aims to sign up over 400,000 users within the first year of its launch in Thailand.

“We are really excited to be launching in a new market, and cannot wait to replicate the same level of success in Thailand that we’ve enjoyed in Singapore over the past year,” said Caecilia Chu, co-founder and CEO of YouTrip.

In Singapore, YouTrip has witnessed over 40,000 app downloads and over 10 million transactions to date.

Featured Image Credit: The Nation

 

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