YUP

YUP is an Indonesian fintech company positioning itself as a homegrown Southeast Asian digital credit card platform rather than a Chinese venture. Founded in 2021 by Zhang Dong, who spent two weeks diligencing Nubank in Brazil before launching, YUP has raised $70 million and reached one million users over four years while maintaining low non-performing loan rates .

The company targets Indonesia's credit-invisible population—working-class users earning $500-600 monthly who previously lacked any credit concept. Its product functions as both a Visa-partnered credit card and an e-wallet accepted across all Indonesian e-commerce platforms and over 50 million merchant QR code locations, including Indomart convenience stores, KFC outlets, and CGV cinemas . YUP reports that over 80% of its users come through organic channels, with monthly spending exceeding $300 per user and app engagement reaching near-70% monthly active rates .

Zhang Dong's co-founders bring targeted financial services expertise: Zou Zhili from ANZ Bank's Southeast Asia credit card business and Atome's risk control, and CFO Guo Tong from Merrill Lynch's investment banking division . The team emphasizes hyper-localization—analyzing WhatsApp group activity for merchant creditworthiness, incorporating flood warnings for agricultural lending, and building Ramadan-specific donation features .

YUP holds one of Indonesia's highest-tier e-money licenses, obtained before regulators largely halted issuance in 2020. As of May 2025, the company projected break-even by late 2025 and outlined expansion to Vietnam, the Philippines, and Thailand, with ambitions to serve 50 million credit card users and pursue a public listing within 3-5 years .