INVESTMENT IN CARDUP
Transcend Capital Partners is excited to announce our recent investment in CardUp, a credit card enablement and financial services company headquartered in Singapore.
CardUp creates value for both individuals and businesses by improving the way they pay and get paid, access credit and manage payments. Leveraging strong bank partnerships and payment technology, CardUp is able to facilitate transactions that currently cannot be paid by credit cards, ranging from rent, insurance, taxes to payroll expenses. The use of credit cards for large expenses is still largely undercapitalized – with most of these large expenses being 7 times more likely to be paid by bank transfer than by card.
Now with CardUp, customers are able to shift these payments onto card, helping them make use of the available credit card lines for extended payment terms to maximize cash flow, as well as earn plentiful rewards on these big expenses. CardUp’s strong technology capabilities also equip businesses with the tools they need to automate business processes, such as recurring payments and invoice digitization. The expertise of the CardUp team and technology makes it uniquely positioned in a large market with high growth potential.
Similarly, financial institutions partnering with CardUp also capture new revenues and strengthen their technologies through integration with CardUp. The win-win solution proposed by CardUp secures a pool of loyal customers and partners, which will continue to fuel its growth.
Led by a female founder and an experienced team, CardUp is a promising addition to our emphasis on empowering female-led startups. We are thrilled to witness the emerging success of CardUp and join hands with our female founders in creating long-term value.