With the Backing of the HKIC and MindWorks Capital, Yup is Driving Fintech and AI Innovation Across Southeast Asia

Yup, Indonesia’s leading credit-led digital bank, has been building a world-class fintech and AI payment ecosystem in Indonesia with the support from MindWorks Capital, Hong Kong’s largest venture capital firm, and the Hong Kong Investment Corporation Limited (HKIC).

With the backing of the HKIC and MindWorks Capital, Yup is deepening its exploration of machine learning and artificial intelligence (AI) across multiple business lines, including credit underwriting, anti-fraud systems, AI Agents, and new application scenarios in Indonesia. These innovations will lay the groundwork for Yup’s planned expansion into the Philippines and Vietnam, reinforcing its commitment to advancing digital financial inclusion across the region.

The involvement of the HKIC and MindWorks Capital extends beyond capital. Both institutions have cultivated a powerful ecosystem that supports companies expanding into Indonesia and Southeast Asia. As this network grows in scale and influence, it is expected to attract greater market attention and capital flows to Asia, further strengthening Hong Kong’s position as a leading regional financial hub.

Yup, as the HKIC’s ecosystem partner , has already achieved significant scale — serving approximately 1 million cardholders and connecting with over 50 million merchants across Indonesia. By leveraging R&D, AI, financial modeling, and capital market expertise from Hong Kong and Shanghai, Yup continues to deliver best-in-class services while reinforcing the global competitiveness of Hong Kong and mainland China as international centers for finance and innovation technology.

Indonesia, with a $1.4 trillion GDP and the world’s fourth-largest population (~280 million), represents a vast opportunity for digital banking, with credit card penetration at only 5% today. With the HKIC and MindWorks Capital’s investment and ecosystem support, Yup is well-positioned to expand into the Philippines and Vietnam, with the long-term vision of becoming the largest digital bank in Southeast Asia.

About Yup

Yup is a credit-led digital bank in Indonesia, offering innovative credit card and payment services. By combining cutting-edge AI, financial modeling, and capital market expertise, Yup is reshaping the future of digital banking and financial inclusion in Southeast Asia.