Yup, The Southeast Asia "Nubank", Raises $32 Million in C-1 Round, Bringing Total Equity Funding to over $100 million

JAKARTA, Indonesia, Sept. 29, 2025 /PRNewswire/ -- Southeast Asia'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, with participation from other institutional investors and existing shareholders. The raise marks a pivotal moment for the company as it accelerates efforts to expand its customer base and edge closer to profitability.

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 CEO 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."

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. "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, CFO of Yup. " This funding will be used to take our customer base to the next level and further refine our product experience."

Yup's fundraising comes as global investors increasingly look to Southeast Asia for resilient, tech-enabled growth stories in the Payment industry. 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, companies like Yup are drawing renewed attention from capital markets.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Yup, The Southeast Asia "Nubank", Raises $32 Million in C-1 Round, Bringing Total Equity Funding to over $100 million

SANYA, China, Jan. 16, 2026 /PRNewswire/ -- Orange Lion Sports (formerly Alibaba Sports), a global sports event operator, is redefining how major athletic competitions and tourism converge through the coordinated integration of digital platforms and consumer services. The recent 2025 Hainan (Sanya) Marathon, supported by the company, showcased an "event-as-journey" experience that delivered a professionally operated, high-quality racing platform while supporting measurable economic growth for the host city. The marathon saw hotel occupancy in Sanya soar to 92%, with a notable 35% surge in spending at local businesses along the race route, establishing a promising blueprint for the scalable "racecation" model.

"We are committed to creating lasting value for athletes and sports enthusiasts," said Yang Yong, General Manager of Events and Commercialization at event partner Orange Lion Sports. "We activated resources across the Alibaba ecosystem, including Taobao, Fliggy, Alibaba Health, Ant Chain, and Amap, to extend engagement beyond race day. This approach attracted runners from across Hainan, other parts of China, and overseas, while encouraging additional event-related spending."

The provincial tourism and sports department has introduced funding incentives for 2026 sports events to attract national and international competitions. Orange Lion Sports has demonstrated how large-scale events can generate sustained economic activity and benefit local businesses by digitally integrating dining, lodging, transportation, entertainment, and shopping. In partnership with Taobao, the company launched a "Winter Warm-up Festival" that distributed tailored promotional vouchers and offers ahead of the event, designed to connect race participation with consumer engagement by introducing regional culinary specialties such as fermented vinegar hot pot and traditional Li-Miao cuisine to runners across China.

The economic benefits were sustained beyond the race period. According to Fliggy data, hotel bookings in Sanya began rising steadily from late October 2025, when event promotions launched, and remained strong throughout the marathon period. The momentum extended beyond the race, coinciding with the New Year holiday travel period. Data from the Sanya tourism bureau shows that during the 2026 New Year holiday, the city welcomed 650,800 visitor arrivals, with tourism revenue of 1.299 billion yuan (approx. US$186 million) generated, illustrating the role of the "racecation" model in supporting tourism demand.

In the future, Orange Lion Sports will harness AI technology to enhance sports events and promote fitness for all, in line with their assertion at CES in 2017: AI is the future of sports development.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Harnessing the Power of Sports: Orange Lion Sports Leads the Way in Driving the Emerging Trend of "Racecation"