Singapore Neobank YouTrip And Mastercard Launch Corporate Card for SMEs
What are the card's features?
Singapore-started neobank YouTrip has launched a new corporate card, YouBiz, powered by Mastercard, for small and medium enterprises (SMEs).
YouBiz allows businesses to earn unlimited 1 percent cashback on all spends, without foreign exchange transaction fees.
The card, which can be physical or virtual, is enabled for payments in more than 150 currencies at over 80 million Mastercard merchants globally, online and in-store. Businesses can open accounts in nine currencies, all of which can be accessed and controlled through YouBiz’s expense management platform.
YouBiz also offers businesses unsecured, collateral-free term loans, which can be disbursed into a firm’s YouBiz account within 48 hours.
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The launch of YouBiz comes after YouTrip’s US$30 million Series A round last November, which was led by family offices in Asia.
Led by co-founder and CEO Caecilia Chu, the company says it has processed over US$800 million in card spend worldwide, with nearly 20 million transactions and more than 1.5 million app downloads.
Since its last raise, Chu also highlighted plans to expand into new markets, including Indonesia and Vietnam. YouTrip currently operates in Singapore and Thailand, and has partnered Visa to enter Malaysia and the Philippines.
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