Since its founding in 2016, You Technologies has grown its staff to over 120 people in Singapore, Hong Kong and Thailand, with more than half of them based in its Singapore headquarters, said Caecilia Chu, the 36-year-old co-founder and chief executive officer of the company.
According to the “e-Conomy Southeast Asia” report by Google, Temasek and Bain & Co., e-wallets are forecast to grow in the region to US$114 billion in 2025 from an expected US$22 billion in 2019. Growth in Singapore and beyondChu said that while she and co-founder cum Chairman Arthur Mak are based in Hong Kong, they chose to launch YouTrip in Singapore, mainly because of support from EZ-Link, a subsidiary of the Land Transport Authority, and the conducive regulatory environment.
Story continues"As the regional fintech space continues to develop dynamically, this licence will provide the ideal springboard for the development and expansion plans we have in the pipeline," Chu said. Earlier in November, the company announced it had launched a YouTrip Mastercard in Thailand via a partnership with Kasikornbank, in its first expansion outside of Singapore.
Some of Chu’s classmates read like the Who’s Who of the regional tech scene: Malaysians Anthony Tan and Tan Hooi Ling, co-founders of Grab; Indonesian Nadiem Makarim, co-founder of Gojek; and June Kuvinichkul, the founding partner of Grab Thailand. Kuvinichkul, a Thai national, would go on to become a founding partner of YouTrip Thailand.
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