Thursday, November 30, 2023

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CardsPal founder and CEO Saim Yeong Harng steps down three months after Utu acquisition

Saim Yeong Harng, founder and CEO of CardsPal, steps down three months after its acquisition by Utu, a travel fintech company.


  • Founded in 2019 with backing from Standard Chartered’s SC Ventures, CardsPal is an app-based lifestyle platform connecting users to credit card, ticket, and payment deals, offering card comparison and cashback services.
  • After CardsPal’s $33 million Series B funding in June, Utu acquired the platform to expand in the $9.5 trillion post-pandemic tax-free shopping market.
  • Harng announced his departure on LinkedIn, describing the start-up’s four-year journey and expressing confidence in CardsPal’s new owner.
  • He thanked his team for their efforts, acknowledged mistakes, and hinted at an exciting new chapter without specifying his next move.

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