YouTrip invested a lot in its own technology stack “because the margin is razor-thin in consumer payment services, so in order to deliver the best cost and value, we need to optimize our value chain to a level where we have full control,” including over its product roadmap. One is that we are the only neobank that owns our entire tech infrastructure and licensing infrastructure end to end.” “We have two key advantages that really stand out. But getting back to the competition, we are also going into the space with our eyes wide open,” Chu said. “I feel like on the SMB front, it’s not going to be one winner takes all. YouTrip also plans to introduce an expense management tool, with an eye toward business travel picking up again.
Instead, its main value-add is enabling SMBs to spend less on foreign currency transactions. It picked this segment because YouBiz is not meant to be a replacement for traditional bank accounts. In particular, YouTrip plans to focus on companies that have between one to 1,000 employees.
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But Chu says the SMB space is not only huge compared to the consumer space, but “there is a massive opportunity because it is a heavily underserved one.”Īspire raises $158M Series B to build a full-stack “financial operating system” for Southeast Asian businesses Once YouBiz is launched, YouTrip will be among several Southeast Asia VC-backed fintech companies that offer corporate cards or focus on the SMB space, including Aspire, Spenmo and Volopay. Their payroll, vendor payments, even how they receive revenue or how they invoice their consumers is worldwide, and their foreign currency needs are certain to go up, so we feel that it is really the right time to segment into this market.” “More relevant to us, because of the whole working from home and hybrid models, companies are increasingly distributed. “They’re really more open-minded to fintech products, to new banking products,” Chu said. The company has also witnessed a paradigm shift among SMBS. We would make it work and continue to make it work regardless of new travel measures.” “We promised ourselves that we would no longer read the news every day to see when the borders would reopen. “We know how important it is to be a truly pandemic-resilient company,” she added. Chu says one of the reasons the company entered the B2B space was because more SMBs are adopting fintech services. YouBiz, its corporate card, is also slated for launch in early 2022. Since it anticipates more traction as consumer spending and travel increases, YouTrip plans to introduce a brand makeover for its consumer app in early 2022, along with new payment features.
The company says its transaction volume has now returned to pre-pandemic levels. “We’ve been targeting the most relevant merchants for our users, to get those merchants partnerships going.” “During the pandemic, people were not only buying much more things online, but also they were more health conscious, so we saw more purchases of sporting equipment and health supplements,” said Chu. It added new features like YouTrip Perks, setting up partnership teams to work with merchants like Lazada and Shopee on cashback deals of up to 15%. Self parking (subject to charges) is available onsite.YouTrip, a challenger bank in Southeast Asia, raises $25.5M for expansion Other Amenitiesįeatured amenities include a computer station, dry cleaning/laundry services, and a 24-hour front desk. Buffet breakfasts are available for a fee. Relax with your favorite drink at the bar/lounge or the poolside bar. The hotel also offers room service (during limited hours). RestaurantĮnjoy a meal at Ta.Ke or snacks in the coffee shop/café. Additional amenities at this Art Deco hotel include complimentary wireless Internet access and concierge services. Property AmenityĮnjoy recreational amenities such as an outdoor pool and a fitness center. Conveniences include safes and desks, and housekeeping is provided daily. Complimentary wireless Internet access keeps you connected, and cable programming is available for your entertainment. Make yourself at home in one of the 360 air-conditioned rooms featuring heated floors and flat-screen televisions. This 4.5-star hotel is 2.2 mi (3.5 km) from Marina Bay Sands Skypark and 4.3 mi (6.9 km) from Universal Studios Singapore. With a stay at Studio M Hotel, you'll be centrally located in Singapore, within a 5-minute drive of Orchard Road and Marina Bay Sands Casino.
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