# CardUp Pte

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/cardup-pte

- Industry: Financial Services
- Headquarters: singapore, Singapore
- Website: www.cardup.co
- Total disclosed funding: $8.4M
- Latest round: Series A (May 19, 2021)
- Investors on record: 9

## About

CardUp Pte Ltd is a fintech company that provides innovative payment solutions enabling businesses to process both domestic and international transactions using credit cards, enhancing cash flow management and payment flexibility.Founded in 2015 and headquartered in Singapore, CardUp Pte Ltd offers a payment platform that facilitates credit card transactions for businesses. The company has undergone strategic pivots and was recently acquired by Funding Societies Pte Ltd on June 29, 2022, from a group of investors. The CEO and founder, Nicki Ramsay, has led the company through its growth journey, focusing on optimizing payment operations in the Asian market. CardUp has raised a total of USD 5.590 mn, with the latest funding round being Series A, involving investments from multiple firms including Sequoia Capital and KFC Ventures.CardUp provides a comprehensive payment solution that allows businesses to make and collect payments, including traditionally non-card accepted scenarios. The service targets small and medium enterprises (SMEs) and larger corporations and can be used for various payment needs such as rent, utilities, payroll, and supplier invoices. Their platform enhances cash flow management by automating payment collection and invoicing and is primarily available in Singapore, Hong Kong, and Malaysia.In 2023, CardUp reported revenue of USD 9.33 mn, with an EBITDA of USD -6.71 mn, reflecting their operational strategy and market positioning.CardUp aims to leverage recent funding to accelerate its growth strategy by enhancing its payment solutions and expanding into new geographic regions. Specifically, they plan to enhance user experience and integrate local licenses for digital lending across key markets in Asia, with ongoing product innovations expected to roll out in the coming years.

## Funding rounds

- Series A, May 19, 2021, $5.6M — Hong Shan, SixThirty, Vulpes Investment Management, RB Investments, SeedPlus, SEEDS Capital, KFC Ventures, AMTD Inc., Transcend Capital Partners
- Seed, Jan 30, 2020, $1M — RB Investments
- Seed, Sep 20, 2017, $1.8M — Hong Shan, SeedPlus

## Investors

- Hong Shan — Seed, Series A
- SeedPlus (https://capitalatlas.ai/funds/seedplus) — Seed, Series A
- RB Investments (https://capitalatlas.ai/funds/rb-investments) — Seed, Series A
- SixThirty (https://capitalatlas.ai/funds/sixthirty) — Series A
- Vulpes Investment Management (https://capitalatlas.ai/funds/vulpes-investment-management) — Series A
- SEEDS Capital (https://capitalatlas.ai/funds/seeds-capital) — Series A
- KFC Ventures (https://capitalatlas.ai/funds/kfc-ventures) — Series A
- AMTD Inc. — Series A
- Transcend Capital Partners (https://capitalatlas.ai/funds/transcend-capital-partners) — Series A