Indonesia’s Yup has raised US$32 million in its latest equity funding round, bringing its total equity funding to more than US$100 million.

The C-1 round drew backing from Moore Strategic Ventures, Spice Expeditions and Platanus, along with other institutional investors and existing shareholders.

The company said the new funds will support product improvements, expand its customer base and move it closer to profitability.

Founded in 2021 under the Finture group, Yup has grown its credit card business to millions of users and expects to reach break-even by the end of 2025.

The company said its revenues have doubled annually over the past three years.

Finture operates in Indonesia through PT Finture Tech Indonesia, which is licensed and supervised by the Financial Services Authority (OJK), and PT Indo Sukses Mandiri (Yoopay), a payment service provider licensed by Bank Indonesia.

These licenses cover the group’s e-money, payment, and fintech innovation activities.

“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.

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.”

said Donny Zhang, Co-Founder and CEO of Yup.

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

said by Gavin Guo, CFO of Yup.